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TCP short of target for sugar procurement

TCP short of target for sugar procurement

KARACHI: Trading Corporation of Pakistan is yet to procure 40,000 tons of sugar from local mills against the targeted quantity of 50,000 tons after domestic mills refused to accept the price matching offer. TCP had procured only 10,000 tons of sugar through previous tender.

Sources said that in this regard TCP is seeking guidelines from the Ministry of Commerce. In November this year, the Economic Co-ordination Committee (ECC) of the Cabinet directed the TCP to procure some 150,000 tons of sugar from domestic mills in two phases. The TCP was asked to procure some 50,000 tons of sugar in the first phase and 100,000 tons in the second phase.