Pakistan Cotton Forum (PCF) has appreciated the efforts of All Pakistan Textile Mills Association (Aptma) in securing free market mechanism for cotton trade by seeking timely intervention from President Zardari and helping transfer of Rs 200 billion to the farm sector representing cotton.
The chairman PCF, Seth Muhammad Akber expressed the hope that this financial resource transfer to the farm sector would steer the cotton farmers out of devastating impact of recent floods, principally hitting the cotton growing areas. He said the Aptma leadership also deserves appreciation from the cotton farmers for passing on international cotton price to the farm sector by actively pursuing the government on free market mechanism. In contrast, he said, the Indian cotton farmer is being hit hard due to down cotton prices. He said it is right time to learn lessons as how the free market mechanism could help fair transfer of resources to all sub-sectors without hurting any link of the textile chain in the country.
According to the PCF chairman, availability of free market mechanism in country was also a defeat of the certain group having vested and seeking unjust government intervention in cotton trade against the larger interest of the cotton farmers.
Akber expressed the hope that the cotton sector would increase acreage of next crop season with continuity of free market mechanism in the country by producing sufficient cotton to meet 30 percent shortage of cotton in domestic industry, which would add overall growth in the national GDP. The PCF is the largest body of stakeholders in the country representing Aptma, Farms Associate Pakistan, Pakistan Cotton Ginners Association and Karachi Cotton Association with sole objective of promoting cotton economy.
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