Browsing Tag

TCP

TCP completes urea import operation

January 13, 2015 - Rizwan Bhatti - BR Report - Trading Corporation of Pakistan (TCP) successfully completed 0.46 million tons urea import to avert shortage in the domestic market. Sources told us on Monday that cumulatively the country has spent $168 million on urea import during the last two months ensuring timely supply in the domestic market to facilitate the farmers. Pakistan is facing some shortage due to gas curtailment to the local urea producing plants. Last consignment of the…

60,500 tons of urea arrives at Karachi port

December 16, 2014 - Rizwan Bhatti - BR Report - To avoid urea shortage in the country, the first consignment of 60,500 tons of urea, imported by TCP, has arrived at Karachi port. Following the directives of the federal government last month, the state-run grain trader (TCP) signed four urea deals with different international suppliers for import of some 385,000 tons of the commodity. Under the agreements, urea arrival has started as a ship MV OCEAN MERRY carrying some 60,500 tons of…

Financial matters of TCP with NFML and USC resolved

November 09, 2013 RIZWAN BHATTI In line with the directives of the Economic Co-ordination Committee, the Ministry of Industries has resolved the long-standing financial disputes of Trading Corporation of Pakistan with National Fertiliser Marketing Limited and Utility Stores Corporation. Sources told us on Friday that there were several financial disputes relating to supply of commodities (urea and sugar) and despite TCP''s several requests, NFML and USC were using delaying tactics to…

TCP to procure sugar on pro rata basis

October 12, 2013 RIZWAN BHATTI Trading Corporation of Pakistan (TCP) has decided in principle to procure sugar on pro rata basis from some 29 mills that have agreed to match the lowest bid. Sources told Business Recorder on Friday that in response to the TCP''s price matching offer out of 34 mills, some 29 have agreed to supply the commodity at lowest bid price. As the TCP has to procure some 45,000 tons of sugar and the offered quantity is more than targeted quantity, the TCP will…

Banks not ready to enhance credit lines to TCP

October 11, 2013 ZAHEER ABBASI Banks are not ready to enhance the cash credit lines to the Trading Corporation of Pakistan (TCP) and insist on high mark-up margin subsequent to the latter''s failure to settle overdraft account as the subsidy was not released by Finance Ministry, it is reliably learnt. Sources told Business Recorder that the TCP has completely utilised the approved credit lines of the consortium of banks due to non-releases of long outstanding subsidy by the Finance…

USC refuses to lift stock: MoC plans to sell 700 tons of imported sugar

December 18, 2012 MUSHTAQ GHUMMAN The Commerce Ministry has reportedly finalised a plan to sell 700 tons of imported sugar in the open market after the Utility Stores Corporation(USC) refused to lift the sugar saying it is not only fine grain but also infested with stones and foreign particles, sources close to the Secretary Industries told BR. The sugar is of Indian, Brazilian and Middle East origin and is stocked at the TCP''s Pipri godowns. Giving the background, the sources said…

PCGA issues figures for cotton production

November 19, 2012 RAHIMYAR KHAN - Pakistan Cotton Ginners Association (PCGA) has issued fortnightly figures of domestic cotton production. Accordingly, all countrywide ginning factories have so far received seed-cotton (phutti) equivalent to 8,519,075 cotton bales up to 15th November, 2012, that’s 550,257 bales (7pc) in excess to previous year corresponding arrivals. However according to PCGA report seed cotton arrivals in ginning factories of Punjab are 5,723,266 bales up to 15th…

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