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)
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