Government allows international bidding for surplus TCP sugar stock under PPRA Rules 2004
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Thursday chaired a meeting of the Economic Coordination Committee (ECC) of the Cabinet at the Finance Division.
The ECC reviewed a summary submitted by the Ministry of National Food Security and Research seeking permission to invite international tenders for the export of 108,000 metric tonnes (MT) of sugar held by the Trading Corporation of Pakistan (TCP).
The sugar stock represents the remaining quantity from 300,000 MT of sugar imported by Pakistan last year. The import was carried out on the recommendation of the Steering Committee on Sugar, which had been constituted with the approval of the Cabinet.
After reviewing the proposal, the ECC allowed the international tender process for the export of the remaining sugar stock. The process will be conducted in accordance with the Public Procurement Regulatory Authority (PPRA) Rules 2004.
The decision comes as the government moves to manage the remaining imported sugar stock held by the state-run Trading Corporation of Pakistan. By allowing international tenders, the authorities will seek to facilitate the export of the surplus quantity through a transparent procurement process.
The Ministry of National Food Security and Research had submitted the proposal to the ECC for consideration, highlighting the need to determine a mechanism for exporting the sugar remaining from last year’s imports.
The international tendering process will strictly follow the applicable PPRA Rules 2004, providing the regulatory framework for the government’s planned export of the sugar.
The ECC meeting was attended by Federal Minister for National Food Security and Research Rana Tanveer Hussain, Federal Minister for Investment Qaiser Ahmed Sheikh and Advisor to the Prime Minister for Industries and Production Haroon Akhtar Khan.
Federal secretaries and senior officials from the relevant ministries and divisions also participated in the meeting.
The ECC serves as a key forum for considering economic and financial matters requiring government decisions. Its approval of the tender process clears the way for the relevant authorities to proceed with international bidding for the 108,000 MT of sugar held by TCP.
The development follows the government’s earlier decision to import 300,000 MT of sugar last year based on recommendations made by the Steering Committee on Sugar. The remaining stock is now set to be offered for export through an international tendering process.