Home / Knowledge / News / Textiles / PCF rejects intervention to free market mechanism in cotton economy
PCF rejects intervention to free market mechanism in cotton economy
22
Apr '11
Chairman Pakistan Cotton Forum (PCF) Seth Muhammad Akbar has rejected any intervention to the free market mechanism in the cotton economy of the country.

He said the cotton farmers are major beneficiaries of the free market mechanism, as return on agriculture produce has increased manifold against all previous records and some Rs240 billion has directly been transferred to the cotton growers by the industry due to attractive support price and increase in commodity prices globally. On top of all, he said, the availability of free market mechanism has played vital role in flourishing rural economy.

He said the farmer commutnity represents 70 percent of the population and present government has won its hearts by protecting lucrative prices for agriculture products.

Seth Akber said all the stakeholders at the platform of PCF including Farmers Associate Pakistan (FAP), Pakistan Cotton Ginners Association (PCGA), Karachi Cotton Association (KCA) and All Pakistan Textile Mills Association (APTMA) have a strong conviction that any intervention to the fee market mechanism would be detrimental to the growth of rural economy in Pakistan.

He said the target of 15 million bales set for the new crop season is likely to be achievable due to enthusiastic farmer community prepared to grow more cotton this year.

Chairman PCF there were high chances of increase in cotton crop last year but unexpected floods hit the rural economy hard. He added in the same breathe that good days are likely to return to the rural economy and cotton production is likely to reach record level this year.

He also urged the government to ensure all inputs to the cotton growers including timely including fertilizers, seed and water to achieve broader national economic objectives.

Seth Akber lamented that the vested interest elements in the ancillary industry are adhering to their hidden agendas by pushing the government to distort free market mechanism by banning exports of cotton trade. He said the ancillary industry should act prudently, as abundant cotton would be available ahead to convert it into value added products.

All Pakistan Textile Mills Association (APTMA)


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Marcel Alberts
Eurofibers

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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