Pakistan’s state-owned trading firm TCP on Monday (April 5) issued a global tender for import of 50,000 tonnes of white sugar but not from ”banned” countries like India, a move described by the Indian sugar industry as “bad luck” for the neighbouring country.
This is the third tender Trading Corporation of Pakistan (TCP) has floated for the import of sugar. Earlier, two tenders for 50,000 tonnes each had to be scrapped mainly due to high quotes.
Faced with production shortages, Pakistan is trying to import sugar in order to boost domestic availability and check retail prices which have shot up to PKR 100 per kg.
Last week, there was sudden hope of trade reopening between the two nations in sugar and cotton after Pakistan”s Economic Coordination Committee allowed the import of these two commodities from India. However, Pakistan”s federal cabinet backtracked on the decision.