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PCGA unhappy over postponement of TCP's cotton buying

01
Feb '12
Pakistan Cotton Ginners Association (PCGA) has expressed unhappiness over the decision of Economic Coordination Committee (ECC) to postpone purchase of cotton through the Trading Corporation of Pakistan (TCP).

Describing the ECC's decision as detrimental to farmers and ginners, PCGA Chairman Amanullah Qureshi said thousands of cotton growers in the country are suffering due to low prices of cotton.

He said Prime Minister Yousaf Raza Gilani had announced in Parliament that the Government would buy one million bales (1 bale = 170 kg) of cotton from the ginners.

He added that the price for TCP's purchase of cotton was to be agreed mutually between the ginners and the Government.

Mr. Qureshi said the latest decision of ECC would add to the troubles of cotton farmers and ginners.

The ginners are currently unable to procure raw cotton from cotton cultivators on cash terms as banks have stopped increasing debt-limits of ginners.

PCGA Chief lamented that no concrete step had been initiated by the Government to bring stability to cotton prices, in spite of Prime Minister's assurance of addressing the grievances of cotton ginners.

Fibre2fashion News Desk - India


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