KARACHI, June 29: Trading Corporation of Pakistan (TCP) on Wednesday sold 89,400 bales of cotton to 37 local mills against the bids for 110,100 bales. According to the TCP official, the price evaluation committee of the corporation, which met in Islamabad, has decided to sell cotton in the range of Rs2,320 to Rs2,400 per maund to local mills.

He said the TCP had offered 87,200 cotton bales of grade III and II stored at various locations in its tender floated in second week of June.

Of the total quantity, 82,200 bales of cotton were sold to 35 parties from TCP Karachi godown at Rs2,365 per maund, 5,200 bales from Rohri to one party at Rs2,320 per maund and 2,000 bales of grade II to one party from DG Khan at Rs2,400 per maund.

Six foreign parties did not agree to the counter offer of the TCP.

Meanwhile, the TCP has floated another tender for the export and local sale of 93,000 cotton bales stored at Karachi, Chichawatni, Bahawalpur and DG Khan godowns. The tender will be opened on July 4, at TCP head office.—APP