TCP should not intervene to level price of cotton: KCA

KARACHI: The Karachi Cotton Association (KCA) has urged the government not to make any intervention in the cotton market through the Trading Corporation of Pakistan (TCP) as an alternative buyer in the cotton market as it would negate the policy of free trade and disrupt the cotton economy in the country.

In a press statement issued here Tuesday, the KCA said it has always advocated for free trading policy in cotton which means free export and import of cotton without any quantitative and qualitative restrictions.

The KCA expressed concern over news reports that the government was considering to induct the TCP to stabilise the price of cotton.

The KCA said that this policy has been followed very successfully since the last 16 years to safeguard the interest of all stakeholders of the cotton economy including the growers.

It may be mentioned that the TCP is part of the public sector.

Copyright APP (Associated Press of Pakistan), 2011