ISLAMABAD (Web Desk) - The federal government has initiated the process to export more than 107,000 metric tonnes of imported sugar, with the Trading Corporation of Pakistan (TCP) inviting bids for the stocks.
According to the tender documents, TCP has sought electronic bids for the export of 107,739 metric tonnes of imported sugar.
The deadline for submitting bids has been set for September 28, while the offers received will be opened on the same day.
The tender documents specify that only electronic bids will be entertained and manual submissions will not be accepted.
The development comes after the government imported substantial quantities of sugar last year.
According to sources, the federal government imported more than 300,000 metric tonnes of sugar during the previous year, with Pakistan spending approximately Rs50 billion on the imports.
The latest tender would therefore put a sizeable portion of the previously imported stocks back on the international market.
The financial outcome of the exercise will depend on the prices offered by prospective buyers and the quantity ultimately sold through the tender.