KARACHI, Jan 5: The Trading Corporation of Pakistan has sold 31,000 tons of imported sugar to local traders at a price of Rs26,000 per ton.

According to a TCP announcement, the bidding was held at the TCP head office here on Thursday.

The TCP had received 221 applications for 31,000 tons of sugar against the tender for 50,000 tons issued on December 31, 2005. Some of these parties have shown interest in purchasing the remaining quantity. The TCP said it would continue to offload sugar in the market to discourage the rising trend in sugar prices and ensure availability of this essential commodity in the market.

The corporation has so far imported 250,000 tons of sugar since early January this year on the instructions of the Economic Coordination Committee of the cabinet.

The announcement said further that the remaining quantity of 19,000 tons would be sold to those applicants who wanted to purchase additional quantity on pro rata basis on the prescribed terms and conditions.—APP