Home / Knowledge / News / Textiles / Pak ginners' body seeks seed cotton support price
Pak ginners' body seeks seed cotton support price
19
Aug '14
A Pakistan cotton ginners trade body has demanded that cotton farmers be assured a government support price to stop their exploitation by textile mills.

At a press conference, office bearers of the Pakistan Cotton Ginners Association (PCGA) demanded a ‘support price’ for phutti or seed cotton to save farmers and ginners from exploitation by textile mills.

They also demanded a resolution to the problem of low-voltage electricity, supplied by power companies, which has badly damaged their machinery and equipment.

Among other demands, they also suggested withdrawal of 5 percent general sales tax (GST) imposed on oil cakes consumed by livestock.

They alleged that seed cotton prices posted a decline of Rs 700 per maund (1 maund = 40 kg) during the current crop season due to the GST imposed on oil cakes.

They said, currently seed cotton is being traded at Rs 2,400 to Rs 2,600 per maund against Rs 3,200 to Rs 3,300 per maund prevailing in June earlier this year.

They also added that the cotton industry was facing its worst ever crisis because oil mills were not willing to buy the oil seeds (seeds left over after ginning) at reasonable rates.

They said imposition of GST had led to lower prices of phutti, slowed the sales of oil seeds and at the same led to rise in prices of oil cakes, proving disastrous for farmers and ginners alike.

If this situation prolongs, farmers may switch to alternative crops, leading to lower cotton production in the next season, which in turn may lead to higher cotton imports, further draining the precious foreign exchanges reserves of the country, they added.

They also said that Finance Minister - Ishaq Dar had promised to withdraw this tax, but as of date there has been no notification from Ministry of Finance.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 23rd May 2017

Apparel, footwear use may rise by 63% in 2030: Report

The apparel and footwear consumption is projected to rise by 63 per...

Apparel/Garments | On 23rd May 2017

Gap Inc earns $3.4 bn in net sales in Q1 FY17

Gap Inc's net sales for the first quarter of fiscal year 2017 were...

Textiles | On 23rd May 2017

Grasim's VSF business net revenue up 12% in Q4 FY17

The viscose staple fibre (VSF) business of Grasim Industries has...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Prathyusha Garimella
Prathyusha Garimella

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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