The Government of Pakistan set up TCP as private Limited company in July 1967 under the Companies Act 1913 (Now the Companies Ordinance 1984), with sole ownership and under the administrative control of Ministry of Commerce. export of agriculture & consumer goods and import of essential commodities under specific directives of the Government. The initial paid up capital of the corporation contribu
ted by the Government was Rs. 2.5 million which was subsequently increased to Rs. 7.5 million in 1971 against authorized capital of Rs.100 million. TCP's Paid Up Capital was subsequently increased to Rs.100 million by issuing bonus shares of Rs.92.5 million in 1978-82 through TCP's own sources i.e. In December 2005, the authorized capital has been increased to Rs. 1,000 million. And action to increase the paid up capital by Rs. 685.805 million is in hand. At the time of its inception, TCP had the monopoly of importing selected industrial raw material. Ferrous and Non Ferrous items to supply industrial commercial consumer. From the year 1980-81, the government decided to remove the monopoly of TCP on imports of the country. Till 1989-90, all items of imports being handled by the TCP were placed on free list, except the import of edible oil under grant/aid and import in emergency under specific government directives. The Federal Cabinet in its meeting held on 4th Dec,1996 approved themerger of CEC and RECP with TCP. RECP and CEC were merged in TCP with effect from January 19, 2001. In the year 1999-2000 the Government assigned new role to TCP keeping in view the fact that there was a need for such an organization to stabilize the prices.
