KARACHI, May 7: The Trading Corporation of Pakistan on Saturday received the highest bid of Rs2,300 per maund for local sales and 47.07 cents per lb for export sales against its tender.

The corporation had floated a tender on April 29 for export and local sales of 60,000 bales of cotton. A total of 80 parties participated in the tender process. Of them six parties participated for 30,000 bales for export sales and 74 parties participated for 129,000 bales for local sales.

The Price Evaluation Committee of the corporation which met after the opening of the tender accepted the highest bid of Rs2,300 by M/s A L Textile, Lahore for 2,000 bales from Dera Ghazi Khan godown, while remaining 17 parties had been asked to match this price for 21,100 bales.

A total of 41 bidders who offered for 85,400 bales from Karachi godown with the highest offer of Rs2,291 had been given counter offer at Rs2,300 per maund.

For Chichawatni godown the highest offer of Rs2,250 by M/s Silver Fibre Spinning Mills, Lahore for 1000 bales was accepted while remaining 9 parties were asked to match this price for 11,500 bales. While for Sanghar Godown 4 bidders who offered for 8,000 bales had been given counter offer at Rs2,200 per maund.

On export front six foreign parties who offered for 30,000 bales between 42 to 45.07 cents per lb had been given counter offer at 47.90 cents lb FOB.—APP