LAHORE - The Trading Corporation of Pakistan has started offloading sugar through tenders and in this regard 10,000 matric ton refined imported sugar was sold in the open market to the highest bidders. The next tender is now scheduled to be opened and awarded on Nov 8. According to a press release, the TCP had received bids from 59 different parties from all over the country and 20 parties were declared non-responsive on account of not complying with tender conditions. The rates quoted in the tender ranged from Rs70,000 per matric ton to Rs56,000 (excluding taxes). M/s Al-Huda Pharma, Karachi offered the highest price of Rs70,000/MT (excluding taxes) for 2,450 MT, which they agreed to increase the quantity to 5,000 MT. Second highest bidder offering Rs69,444/MT agreed to match price and has been awarded balance 5,000 MT to complete advertised quantity of 10,000 MT. The TCP will continue offloading sugar on every alternate day till 15th November, 2010 and second tranche of equivalent quantity of 50,000 MT will start soon after Eid holidays i.e. from 22nd November, 2010, for which advertisement and tender details will appear in all leading dailies. Most of the sugar sold earlier (50,000 MT) to open market has been lifted by the private parties. The lifting of the Saturdays tender will start immediately and the successful bidders are required to complete lifting within 7 days of sale.