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PCGA expresses concern over granting MFN status to India
08
Nov '11
Pakistan Cotton Ginners' Association (PCGA) has expressed concern over granting of Most Favoured Nation (MFN) status to India.

PCGA Chairman Amanullah Qureshi, Vice Chairman South Kishan Chand Kohistani, Ex-Chairman Saeed Ahmed and CEC member Muhammad Azam have said the grant of MFN status to India might prove detrimental to the interest of the cotton cultivators and ginners in Pakistan and stated that the Parliament should not pass this decision of the Cabinet as it would destroy the Pakistani industry.

The PCGA leaders said the cost of production in India, both in agricultural and industrial sectors, is lower than that in Pakistan.

They opined that following the grant of the MFN status to India, several Pakistani sectors would import Indian goods and agricultural produce to earn maximum gains, and likewise the textile units in the country would also opt to import cotton from India to reduce their cost of production.

The PCGA Chairman restated his demand for providing incentives for cotton exporters and waiver of pre-export security/guarantee and registration requirements, as this would enable the ginners to fetch better prices for their exports and also bring in considerable foreign exchange to the country.

Further, he apprehended that the unsold stock of 1.8 million cotton bales would not allow the ginners to place orders for purchase of phutti from the growers after Eid-ul-Azha, as their entire investment is blocked due to non-availability of buyers for unsold stock.

He suggested that the Trading Corporation should step in as a third buyer so as to safeguard the interests of the cotton cultivators and ginners.

Fibre2fashion News Desk - India


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