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Trading Corporation of Pakistan

 

Trading Corporation of Pakistan

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.[1]

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 organisation, strictly follows Public Procurement Rules, 2004 to ensure transparency in all its procurements and has been focusing on decartelisation 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 widespread economic recession but also experienced distressed supply line and fluctuations in foreign exchange rates.[1]

See also

References

  1. ^ a b Official website of the Trading Corporation of Pakistan
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