KARACHI, Dec 12: The Trading Corporation of Pakistan (TCP) has floated a tender for the purchase of 300,000 tons of rice (new crop) to stabilise the prices.

A TCP official said here on Friday that the decision to purchase the rice had been taken on the instructions of the government as a measure to support falling prices of rice.

The tender which included 100,000 tons of basmati and 200,000 tons of Irri-6 rice, would be opened on December 15.

The official said that price of rice had drastically fallen due to bumper crop and TCP’s intervention will help in stabilising the market.—APP