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PCGA postpones protest for 10 days

13
Dec '11
The Pakistan Cotton Ginners Association (PCGA) has deferred its protest for 10 days considering the disturbed political and economic conditions of the country.

PCGA was to originally stop purchase of seed cotton (Phutti) from December 10 onwards to protest against the Government's apathy to direct the Trading Corporation of Pakistan (TCP) to procure at least one billion bales of cotton at rates which are at par with those prevailing in international markets.

The next decision regarding the protest would be taken in the Central Executive Committee (CEC) meeting on December 20, Pakistan Cotton Ginners Association (PCGA) Chairman Amanullah Qureshi, together with Suhail Mehmood Haral, Muhammad Akram, Fazal Elahi, Muhammad Saeed and Sherbaz Khan said.

He added that they want to protect the interest of the cotton cultivators who cater to the entire textile chain right from the ginneries to the textile mills and readymade garment industry.

The PCGA Chief said if the cotton growers would discontinue cultivation, it would stagnate US$ 13 billion worth textile goods exports.

According to him, the Government should restrain cotton import from India through Wagha border as it is nothing but misuse of foreign currency, as there are around two million bales of cotton that are lying unsold with the domestic ginning mills.

He informed that the PCGA has been urged by the farmers' associations to not to observe strike as such suspension of buying would put them at the mercy of traders. Moreover, Prime Minister Yousaf Raza Gilani has also extended an assurance to the PCGA that all their issues would be resolved, he added.

Mr. Qureshi stated that just like the Government directed the Trading Corporation of Pakistan (TCP) to procure 0.2 million tons of sugar from domestic market, it should also ask the TCP to procure at least one million bales of cotton at globally prevailing prices, so as to aid sustenance of cotton price in the domestic market.

He said if the CEC of PCGA decides to launch protest, all PCGA members would discontinue buying Phutti from December 21 onwards.

Fibre2fashion News Desk - India


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