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News Admin
 
Date
 29/09/2001
News Provider
 Mahamad Rodzi Abdul Ghani
News Source
 NULL
Headline
 Trading Corporation of Pakistan sells 8,650 more t

KARACHI (Business Recorder ) 09/27/2001 - The Trading Corporation ofPakistan (TCP) on Wednesday sold 8,650 metric tonnes of imported soybeanoil for more than Rs 328.76 million through an auction. Chairman TCP, SyedMasood Alam Rizvi, said that a large number of bidders participated in theauction held at the corporation's office located in Lahore.In all, 42 ghee and cooking oil units and commercial importers registeredwith TCP participated in the fourth auction.The TCP sold soybean oil at the rates ranging between Rs 38.002 to Rs38,011 per tonne.He said the corporation sold seven lots of 30 tonnes, 23 lots of 100tonnes, four lots of 250 tonnes and 10 lots of 300 tonnes.It may be noted that the TCP had floated a tender for the auction of10,000 tonnes of soybean oil on Sept 21.The United States government will supply 163,000 tonnes of soybean and75,000 tonnes of soybean oil worth $80 million to Pakistan under the aid.The corporation had earlier sold 4,250 tonnes and 6,700 tonnes at Karachiand 4,000 tonnes at Lahore in three auctions.The auction was held in pursuance of TCP's auction notice dated September20, 2001, the 4th auction for a quantity of 10,000 tonnes imported soybeanoil of US origin under 416(b) programme in TCP's Regional Office on 1stFloor, LDA Plaza, Egerton Road, Lahore.The auction commenced at 1100 hours on Wednesday, September 26, 2001.About 42 ghee/cooking oil units and commercial importers registered withTCP participated in the auction.The total cost of 8,650 tonnes of soybean oil sold comes to Rs328,760,400.


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