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PCGA urges govt to devise uniform national cotton policy
22
Nov '12
The Pakistan Cotton Ginners Association (PCGA) has urged the Government to frame a uniform national cotton policy in view of the present-day realities. 
 
During a media briefing, PCGA Vice Chairman, together with Khawaja Riaz Hussain Siddiqui and Shehzad Ali Khan, said the ginners are facing too many difficulties due to improperly devised policies of the Government.
 
Alleging that the Government as well as All Pakistan Textile Mills Association (APTMA) have isolated the ginners, and that the farmers are also pressurizing them, the PCGA officials underscored the need for uniform treatment of ginners along with other stakeholders.
 
They said although the ginning industry pays higher revenues to the Government as compared to other sectors, it is being overlooked and troubled. 
 
As against the price of Pk Rs. 2,700-3,000 per maund that ginners originally paid for procuring cotton, private and public banks were extending loans based on procurement price of Pk Rs. 1,800-2,000 per maund, the PCGA officials said. They urged the Government to take note of the situation and direct banks and financial institutions to raise the loan limits for cotton procurement.
 
They further demanded that the Ministry of Finance and the State Bank of Pakistan should direct all commercial banks to bring down their mark-up and spread rates, which are the highest now, as such heavy charges are badly hitting the ginners.
 

Fibre2fashion News Desk - India


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