ISLAMABAD: The federal government has moved closer to exporting imported sugar after the Trading Corporation of Pakistan (TCP) opened bids for the export of 108,000 metric tonnes of the commodity.
According to official documents, TCP received three bids for the sugar export tender, with the lowest offer standing at $386 per metric tonne.
Rahul International Trading LLC of the United Arab Emirates submitted the lowest bid of $386 per tonne.
General Trading LLC, also based in the UAE, offered $395 per tonne, while Sputnik Global Trading LLC quoted $400 per tonne.
TCP has said that any complaints regarding the bidding process can be submitted by tomorrow evening.
The corporation had invited bids for the sugar export tender until November 13.
According to sources, the federal government imported more than 300,000 tonnes of sugar last year to meet domestic demand.
Pakistan spent approximately Rs50 billion on sugar imports, the sources added.
