KARACHI, April 19: The Trading Corporation of Pakistan on Wednesday gave counter offers to local and foreign buyers against its tender for 30,000 bales of cotton.

According to the corporation, 36 bids were received from local and foreign buyers against the tender floated on April 7.

The TCP price evaluation committee has accepted the highest bid of Rs2.337 per maund for 3,000 bales of grade-III with staple length of 1-1/16” from Shams Textile Mills, Karachi, for local sale and gave a counter offer to the next five highest bidders for the remaining bales.

Similarly, counter offers were given to the four highest bidders for grade-III plus, 1-1/16” at Rs2,372 per maund.

For the export of cotton, the TCP accepted the highest bid of 48.75 cents per pound from Eternal Fortune of Hong Kong for 2,000 bales of grade-III plus, 1-1/16” and gave counter offers at 48 cents per pound to the next two highest bidders for grade-III, 1-1/16” cotton.

The price evaluation committee accepted bids for 4,000 bales of grade-II, 1-1/32” at 48.66 cents per pound, 3,000 bales of grade-III plus, 1-1/32” at 47.71 cents and 3,000 bales of grade-IV, 1-1/32” at 45.17 cents.—APP