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Govt still not clear about resuming trading in cotton futures
12 Jun '09
1 min read
The Ministry of Commerce (MoC) is still not sure about taking a decision regarding changing the rules governing Karachi Cotton Association (KCA), to allow it to act as a regulatory body to monitor cotton trading.
This in effect means allowing it to deal in cotton futures. The surprising feature is that, despite the fact that Pakistan is the fourth largest cotton producer in the world; cotton futures trading is not permitted as in the US and India.
The caretaker Commerce Minster, who also looks after the textile ministry, had assured that the MoC would permit the resumption of futures trading of cotton, which will help protect the interests of all involved in the cotton trade.
This in effect means allowing it to deal in cotton futures. The surprising feature is that, despite the fact that Pakistan is the fourth largest cotton producer in the world; cotton futures trading is not permitted as in the US and India.
The caretaker Commerce Minster, who also looks after the textile ministry, had assured that the MoC would permit the resumption of futures trading of cotton, which will help protect the interests of all involved in the cotton trade.
Fibre2fashion News Desk - India
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