Pak­istan to wit­ness bumper cot­ton crop, claims APTMA

The Pak Banker - - Front Page - Staff Re­porter

LAHORE

Chair­man All Pak­istan Textile Mills As­so­ci­a­tion (APTMA) Ah­san Bashir has said that Pak­istan would wit­ness bumper cot­ton crop this year, ex­pect­edly a to­tal of 15 mil­lion bales.

He has de­scribed it as a phe­nom­e­nal out­come of the Free Mar­ket pol­icy of the gov­ern­ment, which has also en­sured record cot­ton prices to the farm­ers over the last three years.

While ap­pre­ci­at­ing the gov­ern­ment for keep­ing in­tact the free mar­ket mech­a­nism in the larger in­ter­est of all stake­hold­ers in­clud­ing grow­ers, gin­ners and millers, Ah­san said All Pak­istan Textile Mills As­so­ci­a­tion has had been on the front foot for ad­vo­cat­ing free mar­ket mech­a­nism to max­i­mum re­source trans­fer to the farm sec­tor an­nu­ally.

He has fur­ther added that the cot­ton prices in Pak­istan are above the in­ter­na­tional cot­ton prices at present.

The In­dus­try, as a mat­ter of fact, is be­ing over­charged by Rs. 200/ Maund for Pak­istan cot­ton whereas in­ter­na­tional cot­ton can eas­ily be im­ported at Rs. 6,000/ maund on Pak­istani cot­ton par­ity ba­sis.

Pak­istani spin­ners have there­fore made agree­ments in the In­ter­na­tional cot­ton mar­ket for pur­chase of over one mil­lion bales dur­ing the last one week. Re­sul­tantly, he said, this may lead to sur­plus cot­ton in Pak­istan at the out­set of next cot­ton sea­son.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.