KARACHI, Dec 11: The Trading Corporation of Pakistan (TCP) has extended the bidding deadline for the sale of 50,000 tons of wheat to December 16 from December 11, a TCP official said on Wednesday.

On December 7, TCP issued a tender to sell 50,000 tons of milling wheat from the 2001-02 crop, owned by the Punjab government. The official said the deadline was extended on the request of a number of bidders.

“They (the bidders) requested us to extend the deadline because Eid-ul-Fitr holidays had reduced the number of working days last week,” he added.

“We gave them some more time to negotiate with their principle buyers on bidding prices.”

The TCP has fixed a minimum bidding price of $130 per ton in the tender.

The official said bids would now be opened on December 16.—Reuters