Chairman Pakistan Cotton Forum (PCF) Seth Muhammad Akbar has criticised the fertiliser manufacturers for their anti-textile campaign. The chairman PCF said fertiliser manufacturers should know that the textile industry was mainstay of the economy and contributed over 60 percent to Pakistan's exports.
According to Akbar, the fertiliser sector had been the top performer at the Karachi Stock Exchange (KSE) over the last year with further room to rise ahead. A research analyst on the fertiliser sector of leading brokerage houses suggested that the sector would retain significant pricing power despite a likely gas supply cut in winter, he said.
The fertiliser manufacturers were fleecing farmers by increasing prices of urea, he said adding that they should stop this practice forthwith, as it tantamount to criminal activity. Akbar said a diversion of gas supply from textile value chain to fertiliser industry as well as the IPPs would have adverse affect on cotton economy.
Comments
Comments are closed for this article.