29 January 2004	Thursday	06 Zilhaj 1424

KARACHI, Jan 28: Trading Corporation of Pakistan (TCP) has purchased 79,000 tons sugar from 14 sugar mills at a rate of Rs14,100 per ton against its second procurement tender.

The chairman, TCP, Masood Alam Rizvi said here on Wednesday that the corporation had already purchased 4,000 tons of sugar from Sindh M/s Pangrio Sugar Mills and Mirza Sugar Mills against its tender for the procurement of 100,000 tons of sugar in the bidding held last week.

He said that the corporation had made a counter offer to other competing sugar mills and 12 of them had accepted its offer. "Some of the mills are willing to sell more quantity and they have requested TCP to buy additional 21,000 tons of sugar from them," Rizvi said, and that "the TCP will buy this quantity."

He said that 38 sugar mills from Punjab and Sindh had participated in the bidding and offered a total quantity of 248,500 tons of sugar. Since their prices were higher, the TCP had made a counter offer to remaining 36 mills and asked them to submit reply by January 26, 2004.

"Now they have accepted our counter offer and offered a quantity of 75,000 tons at Rs 14,100 per ton. This quantity is now procured," Rizvi said. He said nine of these mills belonged to Sindh while three from Punjab.-APP