KARACHI, Aug 7: The Trading Corporation of Pakistan (TCP) on Saturday received 14 bids for the import of 0.5 million tons of wheat.

However, only seven bidders who met all the tender conditions have been qualified by the TCP, while the remaining five regretted to offer their bids and two did not submit their bid bonds which was an essential condition for consideration of the bids.

The seven parties which submitted their bids along with the required bid bonds included M/s Cargill, USA; Louis Dreyfus, USA; Dominion Grains, Switzerland; Australian Wheat Board; Tradeline, UAE; Agrico Trade and Finance, Switzerland and M/s Noble Grains, Singapore.

The lowest bid received was for $198.30 whereas the highest bid was of $230 per ton. Total quantity offered by these seven parties amounted to 1.174 million tons.

The Price & Purchase Evaluation Committee of the TCP with representatives from the ministries of commerce, finance and Minfal is scheduled to meet on Sunday, to evaluate the offers.