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PCF lauds APTMA for securing free market mechanism
10
Jan '11
Pakistan Cotton Forum (PCF) has appreciated the APTMA efforts in securing free market mechanism for cotton trade by seeking timely intervention from President of Pakistan and helping transfer of Rs200 billion to the farm sector representing cotton.

Chairman PCF Seth Muhammad Akber expressed the hope that this financial resource transfer to the farm sector would steer the cotton farmers out of devastating impact of recent floods, principally hitting the cotton growing areas.

According to him, the APTMA leadership also deserves appreciation from the cotton farmers for passing on international cotton price to the farm sector by actively pursuing the government on free market mechanism. In contrast, he said, the Indian cotton farmer is being hit hard due to suppressed cotton prices by 30 percent approximately amidst unwanted government intervention to free market mechanism there.

He said it is right time to learn lessons as how the free market mechanism can help fair transfer of resources to all sub-sectors without hurting any link of the textile chain in the country.

According to the PCF chairman, availability of free market mechanism in country is also a defeat to the certain vested interest elements seeking unjust government intervention in cotton trade against the larger interest of the cotton farmers.

Seth Akber expressed the hope that the cotton sector would increase acreage of next crop season with continuity of free market mechanism in the country by producing sufficient cotton to meet 30 percent shortage of cotton in domestic industry, which would add overall growth in the national GDP.

The Pakistan Cotton Forum is the largest body of stakeholders in the country representing All Pakistan Textile Mills Association to Farms Associate Pakistan, Pakistan Cotton Ginners Association and Karachi Cotton Association, with sole objective of promoting cotton economy.

All Pakistan Textile Mills Association

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