Home / Knowledge / News / Textiles / KCA advises Pak govt to build buffer stock of cotton

KCA advises Pak govt to build buffer stock of cotton

01
May '12
As part of its suggestions for Federal Budget 2012-13, the Karachi Cotton Association (KCA) has asked the Pakistan Government to reserve a minimum two million bales of cotton as buffer stock so as to effectively cater to domestic demand.

The KCA Brokers Forum suggested that the Government should procure cotton for building buffer stocks through 320 licensed cotton brokers of KCA.

KCA urged the Federal Finance Minister Dr. Hafeez Shaikh to kick off hedge trading through KCA floor, as the Government already granted its approval for the same in March 2005.

The association stated that on February 28, 2008 during an All Pakistan Textile Mills Association (APTMA) meeting in Lahore, former Securities and Exchange Commission of Pakistan Chairman announced that the hedge trading contracts would start within four months, but the promise is yet to see the daylight.

The Forum said that lacking hedge trading, cotton market experienced sharp price and supply volatility, which led to defaults in domestic trade as well as in exports.

The Forum also suggested that the Government should ensure adequate availability of quality cotton seeds, and execute the agreement entered into with Monsanto in April 2010 for introduction of Bollgard-II (BG-II) technology in the country.

It said implementation of the long-awaited accord for introduction of cottonseed technology BG-II and RRF in the country calls for a comprehensive study and research to deliberate on the contents of the Memorandum of Understanding (MoU) signed to this effect.

The MoU entered into between the Government of Pakistan and Monsanto, extends a framework for continuing deliberations aimed at introducing Bt cotton in Pakistan.

In its proposals, KCA also asked the Government to ensure free cotton trade with India to protect the interest of stakeholders of both the countries.

Fibre2fashion News Desk - India


Interviews View All

Smita Murarka, Amanté

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Krishnanand Tripathi, Textrade International Ltd

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Shawn Honeycutt, Bolger & O'Hearn

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Larry Fontana,

Larry Fontana

Italy-based Lafer SpA is one of the most innovative surface finishing...

Alphonse Reddy,

Alphonse Reddy

Bangalore-based Sunday designs and makes mattresses and accessories that...

Puneet Jain & Yatin Jain,

Puneet Jain & Yatin Jain

Odhni is an indutva or ethnicwear brand started in 1999 by the Jain...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

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

Leave your Comments


October 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search