News

Utility Stores buy sugar without tender for Rs83 per kg

April 14, 2020 02:01 PM


The sugar saga continues to remain in the news as the Utility Stores Corporation has procured a large quantity of sugar without issuing tenders, 24NewsHD TV channel reported on Tuesday.

Citing sources, the TV channel said the Utility Stores bought 30,000 tonnes of sugar at an exorbitant rate of Rs83 per kilogram from a sugar mill.

According to the Utility Stores officials, the procurement was made on the basis of consumption, who added that the sugar was bought in packed form.

Earlier, the Utility Stores had bought 20,000 tonnes of sugar from PTI leader Jahangir Tareen after tenders at the rate of Rs67 per kilogram.

There were media reports that the Utility Stores Corporation was scrambling to lift 200,000 tons of sugar from millers and open market with an excuse of higher demand. This quantity is around 10 times it procured last month.

The procurement made with the price tag of Rs83 per kilogram and the current rate in Pakistan is quite interesting given that the per kg rate in the international market stands at around $0.29.

https://www.youtube.com/watch?v=pOavNaBX4NU


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