The Economic Coordination Committee (ECC) of the Cabinet in its meeting held on December 22, 2017 decided to intervene in the market through the TCP and procure 0.3 million tons of sugar from domestic mills, which were facing difficulties in offloading fresh sugar stock due to massive carryover stocks of the commodity. Sources told Business Recorder Friday that as the country has sufficient sugar stocks, it is being expected that the TCP intervention will ensure price stabilization in the domestic market and enable sugar mills to procure sugarcane from growers at the prescribed rate and clear their outstanding dues in time.
The TCP will procure white sugar of current year (2017-18) and later the commodity will be exported through international tenders to earn precious foreign exchange for the country. In case of any loss in sugar trade it will be borne by the respective provincial government, sources said.
The state-run grain trader has invited sealed offers from domestic sugar mills for purchase of 300,000 tons of export quality white sugar, packed in polypropylene (PP) woven sacks/bags as per Pakistan Standard Quality Control Authority (PSQCA) approved standards.
As per the terms and conditions, only those sugar mills will be allowed to participate in the bidding process, which have started and are continuing with crushing at full capacity and the certification of respective provincial cane commissioner will be required to meet this condition. The TCP has asked interested sugar mills to submit single bid, in sealed envelope for a quantity of minimum 5,000 metric tons and maximum 10,000 metric tons up to11:00 am on Thursday, January 25, 2018. The bids received will be opened on the same day in the presence of bidders or their authorized representatives, who may wish to be present.
The sugar mills which had defaulted in earlier deals with TCP, will not be eligible to participate in this bidding process. In order to address the issues or quires relate to the sugar tender, as per past practices The TCP management has also decided to conduct a pre-bid meeting of the sugar tender. The pre-bid meeting will be held on 18th January 2018 at TCP head office and interested bidders can be participated to discuss the tender.
The TCP said that it reserves the right to accept or reject any or all offers wholly or partially or increase/decrease the tender quantity as per PPR, 2004.