KARACHI, May 18: The Trading Corporation of Pakistan (TCP) on Thursday issued a tender to import 50,000 tons of refined sugar, with shipment due in July and bids to be submitted on May 27, a company spokesman said.

Only 18 pre-qualified foreign firms would be allowed to participate in the tender, and the winning bidder would have to make shipments within four weeks of the opening of a letter of credit.

Last week, the TCP had issued another tender for the import of the same quantity of sugar from worldwide sources. Bids for that tender are due on Saturday.

The corporation has been regularly buying sugar from the international market after a government estimate that Pakistan would need at least 800,000 tons of imports in 2006 to meet domestic demand.

The TCP bought 550,000 tons of refined sugar from worldwide sources though eight tenders.

Pakistan’s last cane crop was 45 million tons, producing 2.6 million tons of sugar, against domestic demand of 3.9 million tons.—Reuters