Hamburg: According to Reuters, the international tender issued by Pakistan to procure 50,000 tonnes of white sugar has received the lowest bid at $533.90 tonne c&f. The Trading Corporation of Pakistan (TCP), the state trading agency of Pakistan had floated the tender.
The offer is believed to have been made by Al Khaleej Sugar (AKS). The other trades that submitted their offers are Sucden $564.90, Wilmar $542.90 and Dreyfus $550.00.
The country is facing a sugar deficit, therefore TCP has issued various import tenders to meet the domestic demand.
The Pakistan Bureau of Statistics (PBS) reported on Tuesday that the Consumer Price Index (CPI) rose to 10.9 per cent in May over the same month a year ago. The 10.9 per cent inflation rate is higher than up to 9.8 per cent projection given by the Ministry of Finance last week, reported The Express Tribune. The inflation bulletin has been released three days after the State Bank of Pakistan (SBP) decided to maintain the policy rate at 7 per cent.
