Trading Corporation of Pakistan (TCP) has awarded the sugar purchase contract for a quantity of 20,000 metric tons to the two lowest bidders. In response of TCP”s sugar procurement tender opened on Monday, some 72 parties participated and offered to supply 660,000 tons of sugar. After detailed analysis of bids it was revealed that out of 72 bids only one bid was unresponsive, while remaining all were according to tender”s term and conditions.
All bids were for different quantities and rates ranging from Rs 52,800 to Rs 59,250 per metric ton. Lowest bid was received form two sugar mills ie Kamaliya Sugar Mill Toba Tek Singh and Huda Sugar Mills Nanan Kana Sahib. Both mills offered to supply 10,000 tons of each at the lowest price of Rs 52,800 per metric ton.
Being the lowest and conforming to all tender”s terms and conditions, the offers were accepted and the mills were awarded the contract, accordingly. At the same time to complete the purchase of total targeted quantity of sugar, rest of the bidders, who quoted higher rates in the tender, higher than lowest, have been asked for matching the lowest bid price by Wednesday (today) till 4 pm.
TCP will finalise deal with all those mills, which will be agreed to supply sugar at the lowest offered price. However if the price matching quantity will be higher than the tender it will be procured at pro-rata basis. It may be mentioned here that following the directives of the ECC, TCP floated sugar procurement tender on December 14, 2013. As per tender terms and conditions, bidders were required to quote bids for a minimum quantity of 5,000 metric and maximum of 10,000 metric