The Utility Stores Corporation (USC) has canceled a tender for purchasing 45,000 metric tons of sugar after receiving costly bids.
Sources told ProPakistani that compared to the bids submitted for previous tenders, the corporation has been offered sugar at a higher rate.
Chinese tenders were initially issued to buy more sugar and prevent shortages during the holy month of Ramadan. However, the tender had to be scrapped due to excessively high bids for sugar sourced from utility stores.
Sources said the minimum price offered was Rs. 142 per kg. After adding other expenses, if accepted, the sugar would have cost Rs. 155 per Kg, so the tender was rejected.
Despite the setback, sources said the Corporation claims to have sufficient storage of sugar to manage its supply.
