Trading Corporation of Pakistan (TCP) is the principal trading arm of the Government of Pakistan. Established as a premier international trading house in 1967, the Corporation has gradually moved from barter, through commodity exchange to cash trade. Acting on the directives of the Federal Government, amongst other things, TCP undertakes import of essential commodities to help ensure their availability to the common man at affordable prices. It intervenes in the market in the larger public interest to ensure fair price to growers, as well as to preempt hoarding and profiteering.
The Corporation is fully owned by the Government of Pakistan. Beginning with a trade volume of Rs. 115.763 million in 1967-68, TCP went on to register a turnover of Rs. 52,649.402 million in 2010-11. TCP is evidently amongst the select few profit making state enterprises in Pakistan.
TCP’s operations largely complement the private sector in meeting the demand for essential commodities in the country. It also facilitates the private sector by making its vast storage areas available to them on favorable terms, thus considerably helping improve the supply chains. As it ardently strives for decartelization, TCP’s procurements strictly adhere to the Public Procurement Rules, 2004, brought into place by the Government of Pakistan, with a view to providing level playing field to the market players and ensuring utmost transparency of the procurement processes of the public sector enterprises. Transparency International Pakistan (TIP) has also recently acknowledged the efforts TCP is making to improve the levels of integrity in its operations.
Significantly, TCP has also been instrumental in making the Gwadar port operational. TCP is importing various commodities in bulk through Gwadar port since 2007-08. This has helped generate economic activity in the area with opportunities of gainful employment for the local population, in line with Prime Minister’s Aaghaz-e-Haqooque Baluchistan Package.
I am confident that Corporation with its able team will continue to grow and will assist the Government in achieving the role assigned to it.