Trading Corporation of Pakistan
Encyclopedia
The Trading Corporation of Pakistan (TCP), part of the Government of Pakistan
's Ministry of commerce, is responsible for export and import of commodities in Pakistan
. It issues tenders
for export and import of agricultural products.
History:
Trading Corporation of Pakistan (TCP) was established in 1967 as a premier International Trading House fully owned by the Government of Pakistan. The Corporation has gone through substantial change in its role from Barter to Commodity Exchange Arrangement and to cash trade in line with free market economy approach adopted by the Government of Pakistan. It has remained engaged mainly in commodities trade with a modest beginning of trade of
Rs. 115.763 million in 1967-68 and has registered turn over of Rs. 45,161.248 million in 2009-10. TCP’s current role of import of essential commodities is for improving supplies to ensure availability of commodities to consumers at affordable prices and market intervention for ensuring fair price to farmers.
TCP being government organization, strictly follows Public Procurement Rules, 2004 to ensure transparency in all its procurements and has been focusing on decartelization in all business activities like stevedoring, transportation, clearing and survey. Transparency International Pakistan (TIP) has recently appreciated TCP’s positive role played in this regard. TCP’s corporate strategy reflects the commitment to sustainable business practices balanced by the demanding responsibilities assigned as per charter.
Fiscal year 2009-10 remained a challenging year in the global economy as the international commodity market witnessed serious volatility in international commodity market prices. The international commodity market not only witnessed wide spread economic recession but also experienced distressed supply line and fluctuations in foreign exchange rates.
Government of Pakistan
The Government of Pakistan is a federal parliamentary system, with an indirectly-elected President as the Head of State and Commander in Chief of the Pakistani Armed Forces, and an indirectly-elected Prime Minister as the Head of Government. The President’s appointment and term are...
's Ministry of commerce, is responsible for export and import of commodities in Pakistan
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...
. It issues tenders
Request for tender
A request for tender, commonly abbreviated to RFT, is a formal, structured invitation to suppliers for the supply of products or services. In the public sector, such a process may be required and determined in detail by law to ensure that such competition for the use of public money is open, fair...
for export and import of agricultural products.
History:
Trading Corporation of Pakistan (TCP) was established in 1967 as a premier International Trading House fully owned by the Government of Pakistan. The Corporation has gone through substantial change in its role from Barter to Commodity Exchange Arrangement and to cash trade in line with free market economy approach adopted by the Government of Pakistan. It has remained engaged mainly in commodities trade with a modest beginning of trade of
Rs. 115.763 million in 1967-68 and has registered turn over of Rs. 45,161.248 million in 2009-10. TCP’s current role of import of essential commodities is for improving supplies to ensure availability of commodities to consumers at affordable prices and market intervention for ensuring fair price to farmers.
TCP being government organization, strictly follows Public Procurement Rules, 2004 to ensure transparency in all its procurements and has been focusing on decartelization in all business activities like stevedoring, transportation, clearing and survey. Transparency International Pakistan (TIP) has recently appreciated TCP’s positive role played in this regard. TCP’s corporate strategy reflects the commitment to sustainable business practices balanced by the demanding responsibilities assigned as per charter.
Fiscal year 2009-10 remained a challenging year in the global economy as the international commodity market witnessed serious volatility in international commodity market prices. The international commodity market not only witnessed wide spread economic recession but also experienced distressed supply line and fluctuations in foreign exchange rates.