Home / Knowledge / News / Textiles / Farmers, ginners demand free-market mechanism post July 26

Farmers, ginners demand free-market mechanism post July 26

23
Jul '10
Non-interference in the free-market mechanism beyond July 26 is what the farmers, ginners, spinners and the value-added textile producers are expecting from the government.

Pakistan Cotton Forum (PCF) Chairman, Seth Muhammad Akbar recently said that, the vested quarter, which is actively criticising other sectors of the textile industry, so as to get their own means right, should now refrain from getting into such practices.

The Chairman further stated that, leading stakeholders are closely monitoring the situation and that they would not allow the policymakers to become a puppet, swinging as per the directions of just a few supplementary industries with vested interest.

The proposal to cap purchase of cotton to two months requirement was discarded by the forum, which marked it to be a catastrophe for both the cotton market as well as for the textile sector, he said.

The industry not only yields but even secures their annual requirement of cotton within a period of just four to five months. If the proposal to impose a ceiling on acquisition of cotton by the spinners is accepted, then the farmers and ginners will be compelled to hold the residual stock that too with their insufficient financial resources and means, informed the Chairman.

He further stated that, neither the Trading Corporation of Pakistan (TCP) nor any other government agency in Pakistan is financially sound and capable enough to buy cotton crop and maintain the same as stock, as this involves an investment of around Rs 350 billion.

Fibre2Fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 7th Apr 2020

Holding cost will affect apparel manufacturers

That brands may eventually not scrap orders is not necessarily good...

Pic: reddees / Shutterstock.com

Apparel/Garments | On 7th Apr 2020

Commendable decision by international garment buyers

At a time when the world is passing through an unprecedented crisis...

Pic: Shutterstock

Apparel/Garments | On 7th Apr 2020

Over 40 apparel factories in Bangladesh resume production

More than 40 readymade garment (RMG) factories in Bangladesh's Savar, ...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli, Epson, For.Tex & F.lli Robustelli

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Yash Maniyar, Rekha Maniyar

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Top executives, Textile industry

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Nuria Estape,

Nuria Estape

Archroma is a global colour and specialty chemicals company headquartered...

Martina Giorgetti,

Martina Giorgetti

Italy-based Cibitex is a manufacturer of textile finishing machinery,...

Erwin Devloo,

Erwin Devloo

Picanol develops, produces and markets high-tech weaving machines, based...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Johan Berlin, Investkonsult Sweden AB

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Aneeth Arora, Péro

Aneeth Arora
Péro

The Woolmark Company has partnered with handmade fashion label Péro and...

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


April 2020

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


Advanced Search