October 10, 2013
The federal government has directed the Trading Corporation of Pakistan (TCP) to complete import of 0.5 million tons of urea in next two months. Ahead of expected shortfall in the upcoming crop season, the Economic Co-ordination Committee (ECC) of the Cabinet in its recent meeting has granted approval for the import of 0.5 million tons of urea through the TCP.
Sources said the state-run grain trader on Wednesday received formal directives from the federal government for the import of urea…it has been asked to complete the import of remaining quantity till December-end, they said. “The TCP has been directed to ensure import of some 0.3 million tons of urea in November 2013 and about 0.2 million tons in December for Rabi season,” they added.
In order to ensure timely import and avoid any panic in the market, the TCP has also decided to import 0.5 million tons of urea in phases through five tenders. First tender will be released today Thursday while the remaining four will be announced with a gap of three to four days. All urea import tenders will be for 100,000 tons and to be opened in November for timely import.
In addition, to ensure timely import of urea and avoid any speculation, the state-run grain trader has decided to restrict tenders only for pre-qualified bidders. In pursuance of the ECC directives, the state-run grain trader on Wednesday issued first tender for the import of 100,000 tons of urea, inviting bids from international pre-qualified suppliers for domestic urea consumption. The TCP has invited bids only from pre-qualified foreign suppliers/exporters, already registered with corporation, for supply of 0.1 million tons of urea (10 percent more or less the seller”s option) in bulk through world-wide sources on Cost and Freight (C&F) basis.
As per the tender documents, made available to Business Recorder, the state-run grain trader has strictly asked suppliers for supply of urea in accordance with the standard and specifications as prescribed by Pakistan Standard & Quality Control Authority (PSQCA) for urea and import policy order in force. The corporation has fixed a minimum quantity of 100,000 tons for bid and has clearly mentioned in the tender that bids for less than 100,000 tons will not be accepted.
According to the tender, interested pre-qualified urea suppliers, who can supply urea from world-wide origins, may submit their bids till November 8, 2013 latest by 10am. Bids received will be opened the same day after half an hour. However, the urea suppliers, defaulted with the TCP will not be eligible to participate in the tender process unless they clear their dues before the tender opening date. Moreover, those urea suppliers who failed to fulfil their contractual obligations with the TCP will also not be eligible to participate in the bids, unless they clear their dues along with penalties or fulfil their contractual obligations with the TCP, as the case may be, settled before tender opening date. The TCP has also made it clear that it reserve the right to accept or reject any or all offers wholly or partially bifurcate or increase/decrease the tender quantity as per PPR-2004. Courtesy: Business Recorder
Published in ZaraiMedia.com