KARACHI, Sept 24: The Trading Corporation of Pakistan (TCP) has floated the first tender for import of 100,000 metric tons of wheat from worldwide sources to meet the domestic demand.

TCP chairman Abdul Malik said on Monday that bidding will be held on Oct 8, at the board room of the corporation in Karachi.Only pre-qualified foreign suppliers can participate in the tender.

He said the government had given a task to the TCP for importing one million tons of wheat to meet the domestic shortage for main staple food.

He said this is the first tender and the second one would be issued depending on various factor, including market, availability of wheat in the country and its prices.

Malik noted that the wheat against this tender would arrive in the next 10 months.

“Our effort will be to ensure supply as soon as possible, but the wheat is available in USA or Canada while crop in Australia will be ready in next couple of week, he added.

The TCP chairman opined that responding time to tender is two weeks, while successful bidders would take at least two to three weeks to establish Letters of Credit (L/C). —APP