KARACHI, July 26: The price evaluation committee of the Trading Corporation of Pakistan (TCP) has given counter offers to the bidders for local sale and export of cotton, says a TCP announcement on Friday.

The TCP had floated a tender last week for the export of 21,000 bales of cotton and 20,000 bales for local sale of PCSI Grade Box III and Grade Box II.

The tender was opened on July 24 and 25 at Corporation’s head office in the presence of bidders.

TCP accepted the bids of M/s Yousuf Textile Mills Ltd and M/s Indus Dyeing and Manufacturing Co Ltd for 2,000 bales of Grade Box II 1-1/16” each at Rs2,000 per maund.

The Corporation made counter offer to five other bidders at Rs2000 per maund for 18,000 bales of Grade Box II 1-1/16” against the original offers ranging between Rs1,950 to Rs1,971 per maund.

The TCP also gave counter offers to five highest bidders for 10,500 bales of Grade Box II (plus) 1-1/16” at Rs1,960 per maund against their offers ranging between Rs1,850 to Rs1,921 per maund.

The Corporation gave a counter offer to three foreign bidders for the export of 1,700 bales of Grade Box II 1-1/32” at 38 cents against their bids ranging between 36.80 cents to 37.25 cents FOB per pound.

M/s Cargill Cotton UK was offered to increase its bidding price from 38.07 cents per pound FOB to 38.75 cents FOB for 2,500 bales of Grad Box II 1-1/16”.—APP