The Trading Corporation of Pakistan (TCP) has issued a fresh tender for the import of 100,000 metric tons of sugar, officials confirmed. According to TCP, the new tender is set to be opened on August 11.
Sources indicated that an earlier tender for sugar import had also been floated, with four companies submitting their bids. However, due to the high prices quoted, the previous tender is expected to be scrapped.
Reportedly, the quoted price in the earlier tender for imported sugar stood at Rs. 227 per kilogram.
Earlier, the International Monetary Fund (IMF) expressed reservations over Pakistan’s decision to offer tax exemptions and subsidies on imported sugar, warning that such measures could jeopardise the ongoing $7 billion loan program.
According to official sources, the IMF opposed the government’s plan to provide a subsidy of Rs55 per kilogram on imported sugar, which is expected to arrive in Pakistan at a cost of Rs249 per kg.
The international lender has also rejected the Pakistan government’s justification that the import falls under “food emergency” measures.
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