Last update: Sun, 14 Feb 2016 12am

PCGA urges government to purchase one million bales of cotton through TCP

Pakistan Cotton Ginners Association (PCGA) has called upon the government to act upon its plan to purchase one million bales of cotton through Trading Corporation of Pakistan (TCP) and issue clear cut orders for restoration of contracts and re-sampling of the cotton lying in different ginneries.

PCGA's Vice-Chairman Rao Sadar-uddin along with chairman of ginners group Haji Muhammad Akram and Shehzad Ali Khan told media men that more than two million bales of cotton are lying unsold in our stock. Now, TCP should review its purchasing plan according to the commitment of the chairman of TCP. All the cancelled contracts of cotton be restored and re-sampling of the stock be ensured.

They warned that payments of billions of rupees to farmers would be not possible and they would not be able to sow wheat and negative effects of current season would also affect the next crop. They reiterated their demand to take the ginners out of prevailing crisis.

Copyright Business Recorder, 2015