The Pakistan government has cancelled a tender to import 100,000 metric tonnes of sugar after receiving what it deemed unacceptably high price offers and following objections from the International Monetary Fund (IMF), officials sources confirmed on Thursday, according to the media reports.
The Trading Corporation of Pakistan (TCP) had floated the tender on August 3 to help control rising sugar prices in the domestic market. But bids from three companies failed to meet government requirements for price, grain size, and quality.
As per the media report, offers for fine granulated sugar ranged between $539 and $567 per tonne, while medium-sized sugar was quoted at $599 per tonne. Officials said these rates were too high, and the overall cost would have risen further once port handling, unloading, truck loading, and inland transport charges at Karachi were factored in.
Authorities stressed that the procurement process must strictly follow rules, with no compromise on price or quality standards.
Meanwhile, the IMF has raised strong objections to Pakistan’s plan to give tax exemptions and subsidies on imported sugar.
