KARACHI, June 17: The Trading Corporation of Pakistan (TCP) on Friday sold 2,500 bales of cotton to two local mills at Rs2,374 and Rs2,362 per maund, respectively, and asked 24 local and foreign bidders to match offered price.

According to a TCP official, the corporation received bids from 66 local and four foreign parties for 119,500 bales against the June 13 tender for 66,000 bales.

The price evaluation committee of the corporation, which met on Friday, gave a counter offer to 17 bidders to match the highest price of Rs2,374 per maund for 22,100 bales and Rs2,362 per maund for 9,000 bales, which are lying in Karachi and Multan godowns, respectively. It also asked two highest foreign bidders to match a price of 44 cent per lb.—APP