logo
ENFRع
#

Latest news with #TradePolicy

TCP invites bids for import of 0.3m tons of sugar
TCP invites bids for import of 0.3m tons of sugar

Business Recorder

time12-07-2025

  • Business
  • Business Recorder

TCP invites bids for import of 0.3m tons of sugar

KARACHI: In line with federal government directives, the Trading Corporation of Pakistan (TCP) has issued an international tender for the import of 300,000 metric tons of white refined sugar. In order to stabilise the rising prices of the commodity and avoid shortage on the domestic market, the federal government has decided to import 0.5 million metric tons of sugar. The Federal Board of Revenue (FBR) has already exempted customs duty on the import of 0.5 million tons sugar and also reduced sales tax rate from 18 percent to 0.25 percent and withholding tax up to 0.25 percent on the import of commodity by the TCP or private sector. Following the export of sugar during the last fiscal year, domestic sugar prices have been on the rise, reaching up to Rs 180 per kilogram compared to less than Rs 140 per kilogram at the time of export. In response to this sharp increase and to stabilize the local market, the government has decided to import sugar. Accordingly, on the directives of the government, state run grain trader has issued an international tender and invited sealed bids from the international white refined sugar suppliers/manufacturers, directly or through their local offices or representatives having capacity to supply 'White Refined Sugar' through worldwide sources, for supply of 300,000 metric tons (+/-5% More Or Less Seller's Option) of white refined sugar (bagged cargo) on CFR Karachi and/or Gwadar basis (in break bulk) including 50,000 metric tons of white refined sugar (bagged cargo) on delivered at place unloaded (TCP Pipri Godown) basis in containers only. The bids, prepared in accordance with the instructions in the tender documents, must be dropped on or before July 18, 2025, latest by 1130 hours. Bids will be opened on the same day at 1200 hours in the TCP's Board Room, in presence of the bidders or their authorized representatives who may wish to be present. As per tender, bids must be made for minimum 25,000 metric tons (+/- 5 percent MOLSO) on CFR Karachi and less than 25,000 metric tons for CFR (Break Bulk) and/or DPU (Containerized) will not be accepted. The validity of bids must for Eighty (80) hours from submission of bids and total quantity of white refined sugar must reach the designated ports/destination in Pakistan in accordance with the shipment schedule given in the Tender Document. However, TCP has made it clear that the interested parties who have previously not fulfilled their contractual obligations with TCP shall not be eligible to participate in the bids, unless they clear their dues along with penalties or fulfil their contractual obligations in services and commodities with TCP, as the case may be, before tender opening date. Furthermore, those firms against which blacklisting procedures have been initiated by TCP shall not be eligible to participate in the tender. The supply/import of white refined sugar will be governed by the Imports and Exports (Control) Act, 1950, provisions of the Trade Policy in force, PPRA Rules 2004 and the orders/notifications issued there under; and shall be in accordance with the requirements/specifications laid down by Pakistan Standards Quality Control Authority (PSQCA), for imported white refined sugar. Successful bidder shall be required to furnish a Performance Guarantee, for due and satisfactory performance of the contract, equal to five percent (5%) of the value of the contracted goods (including +5% of MOLSO) within five (05) working days from award of contract, in the form of a Bank Guarantee in US Dollars from a minimum 'A' rated (PACRA/VIS) Bank in Pakistan or in the form of a Banker's Cheque in PKR (Equivalent to US dollars at the exchange rate on or a day preceding the date of opening of the tender. Copyright Business Recorder, 2025

Good business under pressure: Why quality must always matter
Good business under pressure: Why quality must always matter

Fast Company

time10-07-2025

  • Business
  • Fast Company

Good business under pressure: Why quality must always matter

Economic uncertainty is nothing new, but for manufacturers, the stakes are amplified by the sheer complexity of producing goods, sourcing materials, managing supply chains, and maintaining competitive cost structures. Whether it's tariffs and trade policy, changing regulatory requirements, or new geopolitical tensions, external conditions can shift suddenly, making an already intricate business even harder to navigate. In these moments, organizations often look inward to control what they can. Budgets are scrutinized. Processes are streamlined. Resources are reallocated. But one thing that should never be compromised—no matter the pressure—is quality. When margins are tight and uncertainty looms, the cost of poor quality can be particularly damaging. Quality lapses—such as product defects, process inefficiencies, or material waste—don't just impact production numbers. They can compromise safety, risk non-compliance, erode customer trust, and cause lasting damage to a brand's reputation. In highly regulated sectors like pharmaceuticals, food and beverage, and consumer goods, poor quality can mean more than lost profits—it can mean safety violations, recalls, or even threats to public health. When businesses respond to external stress by cutting corners, the hidden costs compound quickly. QUALITY IS A SHARED RESPONSIBILITY Manufacturing companies that take quality seriously know it's not the responsibility of a single team. While quality assurance (QA) and quality control (QC) are essential functions, real operational excellence is achieved when quality becomes part of the organizational DNA. Everyone—from IT and engineering to operations, procurement, and frontline supervisors—has a role to play in maintaining and improving quality. Problems don't always originate where they're detected. The right quality mindset enables companies to trace issues to their root causes and solve them systemically. But a shared commitment to quality doesn't happen automatically. It requires leadership to create a culture of continuous improvement—one that rewards attention to detail, values learning, and ensures teams have the right tools and processes to prevent problems before they escalate. BUILD STRATEGY AROUND OUTCOMES A common pitfall in quality management is letting tools drive the strategy, rather than defining business outcomes first. With so many models and technologies available—statistical process control, digital quality management systems (QMS), MES-integrated quality workflows—it's easy to become enamored with capabilities before clarifying what you're trying to achieve. Instead, manufacturers should first define their desired outcomes. Are you trying to reduce rework? Improve yield? Ensure regulatory compliance? Reduce material waste? Improve customer satisfaction? When goals are clearly articulated, it becomes easier to evaluate which tools and approaches will best support those goals. It also keeps organizations grounded in practical value, minimizing the risk of implementing overly complex or poorly adopted systems that solve the wrong problem. PROCESSES FIRST, THEN TOOLS Technology plays a critical role in modern quality management, but it's only as effective as the processes and expectations around it. Without clearly defined workflows and accountability structures, even the most advanced quality system will fall short. The goal should be to combine strong processes with enabling technologies—such as real-time monitoring, integrated traceability, and exception-based alerts—so that teams can detect and correct quality issues before they result in downstream impact. Technology should augment human decision-making, not replace it. For example, visual inspections on the shop floor can be enhanced with automated data capture, predictive alerts, and trend analysis. When teams have better context, they make better decisions. But that requires both the data and the discipline to act on it consistently. CONSISTENCY BUILDS CONFIDENCE When quality is well managed, the benefits are tangible. Manufacturing becomes more predictable. Resources are used more effectively. Operators and engineers gain confidence in their systems, reducing stress and improving morale. That confidence extends to customers as well. In competitive markets, reputation matters, and consistent quality is one of the clearest signals of operational excellence. Conversely, when products fail to meet expectations, trust erodes quickly. The right quality program also improves resilience. Manufacturers can't control macroeconomic or geopolitical disruptions, but they can ensure that the parts of the business they do control—like execution, output, and compliance—are operating at their best. CONTINUOUS, NOT STATIC Too often, quality management is treated as a compliance box to check or a one-time project. But like safety and innovation, quality must be continuously pursued. Processes should be evaluated regularly. KPIs should evolve with the business. Teams should be encouraged to identify inefficiencies and share solutions. Manufacturers that do this well don't see quality as a defensive measure—they see it as a competitive differentiator. It enables them to scale efficiently, launch products faster, and reduce total cost of ownership across their operations. The manufacturing world will always face external pressure—from new regulations to cost fluctuations to customer demands. But quality is one of the few levers leaders can fully control. Investing in quality, even under pressure, is not about perfection; it's about preparedness. It's a mindset that says: 'No matter what happens around us, we will not compromise on what we can do best.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store