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TCP sugar import tender amended 'to facilitate' only one Dubai-based party - Naveed Yaseen - 08-22-2009 06:25 AM
MUSHTAQ GHUMMAN
ISLAMABAD (August 22 2009): The Trading Corporation of Pakistan (TCP) has amended its sugar import tender to 'facilitate' only one Dubai-based party, which was also favourite of the former TCP Chairman Saeed Khan, sources in Commerce Ministry told Business Recorder. On August 13, TCP had invited bids from the pre-qualified foreign suppliers for 75,000 tons white sugar, in bags (in break bulk), from world-wide sources.
Interested TCP pre-qualified foreign sugar suppliers/exporters who can supply the commodity from anywhere in the world had been asked to submit their sealed enrolls to the TCP. However, TCP on August 20, 2009, made the following amendments in tender No Imp/Sugar/9-10/09 dated 13th August 2009 to be opened on 29th August 2009.
Quantity: clause No 3 (b): may now be read as follows "bid shall be made for a minimum quantity of 50,000 MT" Performance Guarantee; clause No 12 (b): may now be read as under: "The performance guarantee shall be furnished within five (5) calendar days of the date of acceptance of bid by the buyer."
Shipment; (clause No 15 (a): may now be read as follows: "first shipment of at least 12,500 MT within two (2) weeks from the date of opening of L/C and subsequent shipments of same quantity after every one week." Pre Shipment Inspection; in clause no.16 (a) the last word "buyer" is substituted with the word "seller". Age of Vessel; in the 4th line the words "twenty five (25)" are replaced with the words "thirty (30)" and after the words.....over 15 years, insert the words "any and all". In the last line, the following is also added:
"In case the vessel is above 25 years of age, then a penalty of $1 per year PMT will be borne by the supplier in addition to average premium as per Lloyds of London Scale." Terms of shipment on C&F free out basis (for break bulk): the words....two thousand five hundred (2500) MT are substituted with two thousand (2000) MT and the word directs after the word cranes/to be read as derricks.
In the last line, the following wording is added: "and seller shall be responsibility for the same". In the second line after word "Bin Qasim/" the word "Gwadar port" is deleted. In second line the word three is also deleted. The last line to be now read as "....of the entire loaded cargo at Karachi Port". The words Gwadar Port are deleted wherever it appears in this tender document.
Annexure-I: In clause (3) Price after the word "Karachi, insert the words "Port or Port Bin Qasim". When the Manager Imports, TCP was approached for the rationale behind the amendments in the tender documents, he replied that all the changes were done at the top level. He further stated that TCP is also allowing unqualified suppliers/ exporters to import sugar.
Analysts, however, are of the view that import of 75,000 tons of sugar is not needed at this stage as it will reach Karachi after Ramazan because of the formalities. TCP's stocks are about 0.3 million and the next crushing season will start probably in October or early November after which time there will be no need for import.
http://www.brecorder.com/index.php?id=951777