Multan—Pakistan Cotton Ginners Association (PCGA) Chairman Amanullah Qureshi has urged the government to ask the Trading Corporation of Pakistan (TCP) to procure cotton from the ginners as third buyer so that stability could come in the rates of cotton otherwise ‘Beoparis’ and other buyers would exploit the situation.
Talking to newsmen Amanullah Qureshi said,” since the prices of cotton are falling down in the international market, government should take precautionary measures to save the farmers as well as ginners from the financial loss”. He complained that Textile sector was presenting exaggerated figures of cotton production and local consumption to keep the market under pressure.
He said that PCGA was expecting 14 million bales production this year, while local consumption is not less that 14.5 million. While Turkey wanted to import 5 million bales. Similarly China required similar quantity of cotton. He said that private exporters had exported 0.6 million bales of cotton last year and similar quantity might be exported during this season.
He said that cotton rate in international market is Rs.7000/-per maund, while it was selling at local Market at Rs.6400 to 6500 /Maund. He said that with the arrival of TCP as third buyer, market rates would be improved and textile sector could not exploit the situation.
PCGA chairman said that government should protect the interest of growers and ginners who provide foreign exchange of billions of rupees. He suggested that government should announce the national cotton policy to protect the interest of all stakeholders. He reiterated his demand for a relief package for the ginners of Sindh, whose industry destroyed in the flood.
Expressing his concern on the revised power tariff, PCGA chairman said that new rates of electricity are detrimental to the ginning sector and it would help in increasing the production cost and leaving Pakistani product incompetitive in the International Market.
He also opposed the two weekly offs describing it harmful to country’s trade and economy. He said that now business would remain shut for three days a week because Ginners are observing holiday of Friday.
Source: http://pakobserver.net/detailnews.asp?id=120506
