ISLAMABAD, Feb 11: The Trading Corporation of Pakistan has issued tender to import 50,000 tons of white refined/crystal sugar from global sources, a TCP official said on Wednesday.

Bids from pre-qualified foreign suppliers would be received by Feb 18, and bids would be opened the same day, the corporation said in a notice. The government last week authorised the TCP to import 200,000 tons of refined sugar to meet an expected shortfall this year.

Government and industry bodies had expected refined sugar output in the 2008-09 financial year (July-June) would fall to between 3.5 million and 3.6 million tons.

Demand fluctuates between 3.9 million and 4.3 million tons a year, according to industry officials. The government decision to import refined sugar comes after domestic sugar prices increased more than 23 per cent to Rs42 (52 US cents) from Rs34 two months ago.

Pakistani sugar prices have gone up following a rise in sugarcane prices to up to Rs120 per 40 kgs from Rs60 in the past year, because of lower output compared with the previous crop of 4.7 million tons.—Reuters