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PCGA seeks bailout package for cotton ginners
07
Mar '12
Pakistan Cotton Ginners Association (PCGA) has urged the Government to sanction a bailout package for the cotton ginners who have suffered a loss of over Rs. 225 billion due to lobbying by textile millers.

PCGA also demanded that the Government should direct the Trading Corporation of Pakistan (TCP) to purchase a minimum of 500,000 bales of cotton from the stock lying unsold with the ginners.

Taking undue advantage of free-trade mechanism, some elements are exploiting the cotton cultivators, PCGA Chairman Amanullah Qureshi said, while speaking at a media meet along with Haji Mukhtar Ahmed Baloch and Haji Muhammad Akram.

Mr. Qureshi contended that while not following the instructions of Prime Minister Syed Yousuf Raza Gilani regarding procurement of cotton through TCP, the Government machinery including the bureaucracy as well as the Textile Ministry, were employing delaying tactics to serve the purpose of APTMA.

He suggested that the Prime Minister should make sure that TCP procures a minimum of half a million bales of cotton, so as to bring stability in the domestic market.

He questioned the TCP's disinclination towards buying cotton, particularly when it bought 350,000 tons of sugar from the sugar mills.

He said Pakistan's cotton production for the next season is likely to come to 17.5 million bales, but if the Government continues to show apathy, the sector might fail to meet its production targets, as farmers may shift to other cash crops.

Fibre2fashion News Desk - India


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