KARACHI, Sept 28: The Trading Corporation of Pakistan has floated a tender for the local sale of 75,000 tons of sugar from the imported stock ahead of Ramazan to ease prices in the local market.

According to a TCP official here on Wednesday, the corporation was holding about 350,000 tons of sugar, including a stock of more than 300,000 tons, which was procured from local mills last year.

He said the bidding would be held on October 3, and any trader, importer or individual registered under sales tax, could take part in the bidding.

The TCP had earlier off loaded 50,000 tons of sugar in the local market during the first week of September at Rs23 per kg.

He pointed out that the TCP would also supply sugar to the Utility Stores Corporation for sale at its stores during Ramazan under special package.

The corporation had so far awarded supply contracts for 150,000 tons of sugar since January this year on the instructions of the Economic Coordination Committee of the cabinet. The ECC had asked the TCP to import 200,000 tons of sugar to meet domestic demand.

About 75,000 tons of the imported sugar had already arrived in the country, while the rest was on its way.—APP