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Local buyers urges Commerce Ministry & TCP to act on unfair cotton sales
24 May '05
1 min read
Pakistani Textile millers have urged Ministry of Commerce and the Trading Corporation of Pakistan(TCP) to take action against unfair bidding process for the sale of raw cotton stocks.
The All Pakistan Textile Mills Association (APTMA) has illustrated the issue of cotton sale by the TCP as unfair and discriminatory for the domestic textile industry as, “it fails to provide a level plying field to buyers,” stated Arif Saeed, the chairman of APTMA.
Arif explained that It is like facilitating industry in other country but not the local industry. TCP is facilitating foreign buyers by selling on lower price with more time for shipments and even on order finalizing time limit.
The corporation is offering cotton at 8% to 9% percent less charges to the foreign buyers compared to the domestic industry. As per the association's letter to the TCP, copied to the Ministry of Commerce, stated after reconsidering the terms and conditions of the cotton sale tender thorough, it had been observed that TCP had acted partiality between local industry buyers and cotton exporters.
The All Pakistan Textile Mills Association (APTMA) has illustrated the issue of cotton sale by the TCP as unfair and discriminatory for the domestic textile industry as, “it fails to provide a level plying field to buyers,” stated Arif Saeed, the chairman of APTMA.
Arif explained that It is like facilitating industry in other country but not the local industry. TCP is facilitating foreign buyers by selling on lower price with more time for shipments and even on order finalizing time limit.
The corporation is offering cotton at 8% to 9% percent less charges to the foreign buyers compared to the domestic industry. As per the association's letter to the TCP, copied to the Ministry of Commerce, stated after reconsidering the terms and conditions of the cotton sale tender thorough, it had been observed that TCP had acted partiality between local industry buyers and cotton exporters.
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