KARACHI, July 5: The Trading Corporation of Pakistan has floated a tender for the import of 100,000 tons of refined sugar, 50,000 tons of which on priority basis. TCP Chairman Masood Alam Rizvi said here on Tuesday that the tender had been floated on the instructions of the Economic Coordination Committee of the cabinet to meet domestic demand.

He said the tender had asked the bidders to establish letter of credit (LC) within 25 days for the supply 50,000 tons of sugar by August. He was of the opinion that this quantity could be supplied from China or Dubai, while the rest of the quantity from Brazil. The second shipment of 50,000 tons can be supplied by September and the time limit for opening of LC is 50 days, Mr Rizvi said.

He said the bidding for this tender would be held on July 15, at TCP’s head office.

The TCP chairman expressed the hope that the price range would be between $320 and $330 per ton.—APP