Home / Knowledge / News / Textiles / Pak textile stakeholders reject TCP's intervention
Pak textile stakeholders reject TCP's intervention
30
Dec '11
A meeting of the textile industry ministry was held on December 28 with the stakeholders of cotton trade including industry, Karachi Cotton Association (KCA) and cotton exporters to agree on no TCP intervention in the free market mechanism. The Trading Corporation of Pakistan (TCP), therefore, is not likely to intervene, as the ministry was convinced by the participants.

It may be noted that the proposal of PCGA for lifting of their remaining cotton stocks through TCP amidst falling prices was pending with the textile ministry.

The participants of the meeting argued that as of 15th December 2011, as many as 11 million bales of cotton had arrived, which would further increase by 31st December 2011 to around 12.2 million bales.

They pointed out that crop lifting data suggests that 95% of the cotton crop, estimated to be 12.58 million bales, would be out of the hands of the cotton farmers. Therefore, the intervention would not yield any benefit and if so, it would benefit only cotton hoarders.

Chairman All Pakistan Textile Mills Association (APTMA) Mohsin Aziz said, cotton prices surged abnormally to $2.2 per Kg last year but APTMA did not ask for government intervention for a single day and instead fought for continuity of free market mechanism.

Right now, he added, fall in cotton prices is global phenomenon and All Pakistan Textile Mills Association (APTMA) has nothing to do with tumbling cotton prices therefore PCGA's propaganda of manipulation the market by APTMA was baseless. It is not the manipulation but speculation of a few ginners that has created fuss recently, he said.

He said the TCP's intervention, if inevitable in any case, should be broad-based and APTMA should also be allowed to bid for TCP's tender against 4.5 million stocks with industry at present. There should be an equal opportunity for every stakeholder to avail the opportunity at the cost of exchequer and no discrimination should be made by the government, he added.

He said the textile industry was passing through severe energy crisis and it would prefer to sell its stocks to the TCP rather converting it into yarn on heavy losses.

All Pakistan Textile Mills Association (APTMA)


Must ReadView All

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search