KARACHI, Aug 15: The price evaluation committee of Trading Corporation of Pakistan (TCP) has given counter offers to the bidders for local sale and export of cotton, says a TCP announcement on Thursday.

The TCP had floated a tender last week for local sale of 20,000 bales and 6,561 bales for export from cotton crop of 2001-02.

The tender was opened on Tuesday at Corporation’s head office in the presence of bidders.

The TCP made counter offer to M/s Naseem Enterprises Karachi for 2,220 bales of Grade Box II 1-1/16” clean cotton against the original offer of Rs2,002 per maund. The firm was also asked to raise its bid for Grade Box-IV cotton 1-1/32” cotton to Rs2,000 per maund against its quoted price of Rs1,550.

The corporation also gave counter offers to eligible bidders for Grade Box III (plus) 1-1/16” (Afzal) at Rs2,125 per maund.

It gave a counter offer to all four bidders for Grade Box III 1-1/32” at Rs2,075 per maund.

On the export side the TCP asked M/s Retsen Limited London to raise its bid price for 500 bales of Grade Box-I 1-1/32” organic cotton at 41.50 cents per lb FOB against 38.61 cents.

The same company was also given a counter offer for the export of 561 bales of Grade Box II 1-1/32” organic cotton at 40.50 cents per lb FOB against its quoted price of 37.61 cents per lb.—APP