KARACHI, April 30: The Trading Corporation of Pakistan has floated the second tender for the export as well as local sale of 60,000 bales of cotton from the 2004-05 crop. TCP Chairman Masood Alam Rizvi said here on Saturday that the corporation would sell cotton to the highest bidders irrespective of foreign or local.

The TCP has offered cotton of grade III with staple length of 1-1/16” prime micronaire stored at various locations. Of the total quantity, 30,000 bales of cotton will be offered from the TCP Karachi godown, 15,000 bales from DG Khan, 10,000 bales from Chichawatni and 5,000 bales from the Sanghar godown.

The bidding will be held on May 7, 2005. Mr Rizvi said the TCP would issue more tenders to dispose of the entire quantity of cotton at godowns.

The corporation had procured cotton of grade box III at an average price of Rs2,159 and after including financial charges on banks’ loan and transportation cost it paid to the ginners, the actual procurement prices ranged between Rs2,350 and Rs2,400 per maund.

“We have sold 20,000 bales in the previous tender to three exporters at 48.35 cents which is equivalent to Rs2360 per maund,” Mr Rizvi said and added that the selling price for this tender cannot be lower than this price.

The landing cost of imported cotton of the same quality has been equivalent to Rs2,600-2,650 per maund, which is higher by Rs250 per maund.

UREA TENDER: The Trading Corporation of Pakistan has also floated a tender for the import of 150,000 tons of urea on the instructions of the Economic Coordination Committee. The TCP chairman said the bidding would be held on May 9, 2005.—APP