ISLAMABAD: Economic Coordinating Committee (ECC) of The Cabinet approved the import of 580,000 tons of wheat to meet local needs requirements in two different international tenders.
Minister for The meeting was chaired by Finance and Revenue Senator Mohammad Ishaq Dar. of ESS of cabinet. Sources said the ministry of National Food Security and Research submitted a summary on reward of The 7th International Wheat Tender 2022 is open on November 30, 2022
trading corporation of Pakistan November 11, 2022 Seeking advice on 7th international wheat tender open on 11/30/2022 for import of 500,000 tons of wheat (5% MOLSO).
TCP announced the 7th tender on 11/18/2022 on Based on CFR in Karachi Ports and Gwadar Port for deliveries from December 16, 2022 to February 8, 2023 The tender has been opened on 11/30/2022 where 10 international bidders participated, out of nine bidders offered bids and one presented regret.
Sources said the lowest adaptive rates on CFR in bulk for Ports of Karachi from M/s Cereal Crop Trading LLC at $372/ton. for supply of 130,000 tons (MOLSO) and for Port of Gwadar by M/s Grainflower DMCC at $377/ton. for supply of 105,000 tons (MOLSO) of wheat and validity period of trading until December 5, 2022.
Estimated cost of imported wheat calculated by TCP for Port of Karachi costs Rs 91,121 or Rs 3,645/40kg, while cost at Gwadar port is valued at 91,623 tons or Rs 3,685/40 kg under PPRA exemptions for the subject imports and in order complete proposed quantity, the negotiation process was completed by TCP.
Offer from LLC M/s Grain Crops Trading for 130,000 tons, t / s Agrocrop International for 120,000 tons and m/s Aston FFI DMMC for an additional 190,000 tons of wheat was received award declared quantity of 500,000 tons.
Sources said that TCP also revised proposal from M/s Prodintorg Russia on G2G Base @ $372M for supply of 450,000 tons on Bulk CFR in the ports of Gwadar or Karachi for in shipment period from February 1, 2023 to March 31, 2023 and validity of the offer is still December 5, 2022.
It is pertinent to note that against in total distribution of 2.6 million tons of import wheat allowed by the cabinet, 980,152 tons already arrived while TCP won tenders for 685,000 tons. Consequently with in current tender quantity of 500,000 metric tons and G2G offer for 450,000 tons, all distribution of imported wheat of 2.60 million tons will be completed.
According to the certificate issued by the Ministry of Finance. division what in view results of 7th International Tender and G2G Offer, ECC approved the lowest price from M/s Cereal Crop Trading LLC at USD 372 per ton. for supply of 130,000 tons in Karachi ports for in shipment the period from December 16, 2022 to February 8, 2023 and also granted approval of sentence of T/s Prodintorg, Russia on Base G2G @ 372 USD / ton for supply of 450,000 tons in the port of Gwadar for shipment period from February 1, 2023 to March 31, 2023.
It was agreed that any additional cost on domestic traffic from the port of Gwadar will be borne by PASSCO, which will be reimbursed by the provinces at that time. of release of stock of wheat.
ESS also approved the proposal of Ministry of Finance changes its name of revolving fund account for Independent Power Producers CPEC from “Pakistan Energy Revolving Fund” to “Pakistan Energy Revolving Account”.
