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Trade bodies resent Pakistan Textile Ministry's statement
05 Nov '11
2 min read
The Ministry of Textile Industry in Pakistan is facing severe resentment for its statement that trade bodies in the country are prejudiced and have their vested interests.
In a joint statement, executive members of various trade bodies including All Pakistan Textile Mills Association (APTMA), Pakistan Cotton Ginners Association (PCGA), Karachi Cotton Exchange (KCE), Pakistan Yarn Merchants Association (PYMA), Karachi Cotton Association (KCA) Advisory Board, KCA Brokers Association and Cotton Committee of Federation of Pakistan Chambers of Commerce and Industry have refuted the statement issued by the Ministry.
The Ministry of Textile Industry representative recently gave a statement that the primary cotton production estimates released by the Cotton Crop Assessment Committee (CCAC) for the current year are based on research and unbiased data. He further said that the deceptive figures furnished by various organizations are influenced by their vested interests and they aim to manipulate the market.
PYMA said the estimates and data given out by the officials of the Ministry are often one-sided as it lacks experts who can derive accurate industry estimates, and hence it should keep away from releasing any cotton production figures.
PYMA demanded that the Ministry should show remorse towards representatives of the domestic textile industry, which contributes around 65 percent of the country's overall foreign exchange earnings, for calling them as people with vested interest.
APTMA said the Ministry has no evidence to prove that it involved the real industry stakeholders for drawing estimates and figures. It claimed that the genuine stakeholders have articulated great concern over the misleading 2011-12 cotton production estimates, as according to them, this would prove detrimental for the country's entire textile and cotton industry.
KCA Cotton Advisory Board, too, refused to accept CCAC's cotton production estimates for the current season derived during the primary meeting to review cotton production, and said the country is likely to produce about 15 million bales of cotton during the season.
In a joint statement, executive members of various trade bodies including All Pakistan Textile Mills Association (APTMA), Pakistan Cotton Ginners Association (PCGA), Karachi Cotton Exchange (KCE), Pakistan Yarn Merchants Association (PYMA), Karachi Cotton Association (KCA) Advisory Board, KCA Brokers Association and Cotton Committee of Federation of Pakistan Chambers of Commerce and Industry have refuted the statement issued by the Ministry.
The Ministry of Textile Industry representative recently gave a statement that the primary cotton production estimates released by the Cotton Crop Assessment Committee (CCAC) for the current year are based on research and unbiased data. He further said that the deceptive figures furnished by various organizations are influenced by their vested interests and they aim to manipulate the market.
PYMA said the estimates and data given out by the officials of the Ministry are often one-sided as it lacks experts who can derive accurate industry estimates, and hence it should keep away from releasing any cotton production figures.
PYMA demanded that the Ministry should show remorse towards representatives of the domestic textile industry, which contributes around 65 percent of the country's overall foreign exchange earnings, for calling them as people with vested interest.
APTMA said the Ministry has no evidence to prove that it involved the real industry stakeholders for drawing estimates and figures. It claimed that the genuine stakeholders have articulated great concern over the misleading 2011-12 cotton production estimates, as according to them, this would prove detrimental for the country's entire textile and cotton industry.
KCA Cotton Advisory Board, too, refused to accept CCAC's cotton production estimates for the current season derived during the primary meeting to review cotton production, and said the country is likely to produce about 15 million bales of cotton during the season.
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