LAHORE, Jan 24: The Pakistan Storage and Supply Corporation (Passco) on Saturday received the lowest bid of Rs411 per ton for handling of imported Australian wheat at Port Qasim.

A total of 11 companies that participated in the tender, M/s Multi Cargo Company offered the lowest bid of Rs411 per ton for stevedore and handling of wheat while the highest bid was offered by Gharib Sons at Rs660.

General Manager Passco and Chief Coordinator, Wheat Import Monitoring Committee, Col (Retd) Muhammad Akram who supervised the opening of bids, said that Passco was only working as catalyst.

He said the contract for import of 150,000 tons of wheat had already been given to Tradesman International, while opening of tender for import of another 150,000 tons would be held on Monday.

He said decision on awarding of contract for handling and import of second tranche of 150,000 tons would be finally approved by Wheat Import Monitoring Committee of Ministry of Food and Agriculture in its meeting on Wednesday, which would be chaired by Federal Minister for Food Sardar Yar Mohammad Rind.

Earlier, Passco managing director Major General Fahim Akhtar speaking on the occasion assured the parties that contract would be awarded purely on merit.

"I assure you of full transparency in the tender opening and related processes; no favour will be done to any party", he said.

However, he said, the party which would be given contract would have to fulfil all the commitments made in the contract.

He told the bidding firms that they would have to be ready to handle wheat by February 10 as after that date first shipment of wheat from Australia was expected any time.

The other parties offered following bids: Asia Terminals, Rs474; United Equipment, Rs412.50; Sea Trade Private Ltd., Rs452.60; OPT, Rs578; Barwil, Rs521; Translog Management Services, Rs456; Cargo Safety Services, Rs529; Universal Trading and Cargo Handling Limited, Rs486; and Waqar and Co., Rs481.-APP