Home / Knowledge / News / Textiles / APTMA welcomes ECC for supporting free market mechanism
APTMA welcomes ECC for supporting free market mechanism
02
Feb '12
Chairman All Pakistan Textile Mills Association (APTMA) Mohsin Aziz has welcomed the Economic Coordination Committee (ECC) decision of supporting the free market mechanism and let market forces define the prices of cotton in the country.

It may be noted that the Pakistan Cotton Ginners Association (PCGA) had urged the Prime Minister to ask the Trading Corporation of Pakistan (TCP) to intervene the free market mechanism and buy one million bales of cotton lint at Rs6500/bale to bail out farmers.

However, APTMA had opposed any such intervention, unbalancing the cotton price mechanism. The ECC was informed that only a small stock of cotton, that is less than 10 percent, is lying with the growers and any intervention at this stage would neither be prudent for cotton market not would benefit the growers. Accordingly, the ECC declined to the PCGA request in its latest meeting.

Mohsin appreciated the ECC for a prudent decision of discouraging a few opportunists, misguiding the government under the garb of cotton growers. He said the APTMA has never been against the benefit of cotton growers but it does not imply that anyone would be allowed to exploit the government by misstating the facts.

He said APTMA took a principled stand, based on facts that no one would be allowed to keep textile industry hostage under the garb of cotton growers. He said only a few hoarders tried to brinkmanship and failed at the end of the day. He said these hoarders had built up cotton stocks during floods on the presumption that Pakistan would be short of cotton. However, Pakistan remained safe from cotton shortage by the grace of Allah and same quarters started pressurizing the government under the garb of cotton growers.

He has appreciated the Textile Minister Makhdoom Shahab-ud-Din for lending a patient hearing and weighing the arguments of APTMA in favour of free market mechanism and deciding the matter on merit.

Chairman APTMA has also appreciated the ECC for understanding the APTMA viewpoint on free market mechanism and discouraging the unscrupulous elements. He has further expressed the hope that similar prudency would dominate government circles regarding energy supply to textile industry on priority for more exports, foreign exchange and jobs in the country.

All Pakistan Textile Mills Association (APTMA)


Must ReadView All

Textiles | On 21st Jul 2017

No shortage of cotton & yarn in country: Minister

There is no shortage of cotton and yarn in the country, and the...

Pic courtesy: Sutlej Textiles & Industries Ltd

Textiles | On 21st Jul 2017

Sutlej Textiles’ Q1 FY18 EBITDA expands to Rs 76.28 cr

Sutlej Textiles and Industries Ltd (STIL), one of India’s largest...

Textiles | On 21st Jul 2017

CAI revises 2016-17 cotton crop to 337.25 lakh bales

Cotton Association of India (CAI) has upwardly revised cotton crop...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Urs Stalder
Sanitized AG

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

July 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

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

Yes No

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

Yes No

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


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



X