Editor's note: The government should provide equal opportunities for every stakeholder to use this opportunity, rather than taking a differentiated attitude in the event of damage to the state's treasury resources.
Pakistan’s textile and cotton sector rejected Pakistan’s trading company’s (TCP) intervention in the free market mechanism.
Stakeholders asked the Ministry of Textiles not to allow Pakistani trading companies to interfere in the cotton trade.
This issue was raised at the meeting held by the Ministry of Textiles with the stakeholders of the Karachi Cotton Association and cotton exporters.
Aziz, chairman of the All Pakistan Textile Mills Association, said that last year, the cotton price rose sharply to an abnormal $2.2/kg last year, but the Pakistani Textile Factory Association did not ask the government to interfere for a day. Instead, they took the initiative to continue to be free. Market mechanism and struggle.
The decline in cotton prices is a global phenomenon, and the Pakistani Textile Manufacturers Association has not taken any measures to reduce the cotton price. Therefore, the Pakistan Ginners Association’s propaganda on the manipulation of cotton prices by the All Pakistan Textile Manufacturers Association is unfounded.
This is not manipulation, but speculation by several ginners has caused recent fuss, Aziz said.
Aziz said that if Pakistani trading companies interfere, if they are inescapable, then on a broad basis, the All Pakistani Textile Manufacturers Association should also get permission to bid for a Pakistani trading company. Currently, the textile industry has only 4.5 million bales of cotton stock. .
Aziz added that the government should provide every stakeholder with an equal opportunity to use this opportunity instead of adopting a different attitude in the event of damaging the state's resources.
The Pakistani Ginners Association's proposal to increase cotton stocks by Pakistani trading companies to prevent the decline in cotton prices has been submitted to the Ministry of Textiles, but the Ministry of Textiles has not yet decided.
Delegates said that as of December 15, 2011, 11 million bales of cotton had arrived, and by December 31, the arrivals would have increased again to about 12.2 million bales.
Pakistan’s textile and cotton sector rejected Pakistan’s trading company’s (TCP) intervention in the free market mechanism.
Stakeholders asked the Ministry of Textiles not to allow Pakistani trading companies to interfere in the cotton trade.
This issue was raised at the meeting held by the Ministry of Textiles with the stakeholders of the Karachi Cotton Association and cotton exporters.
Aziz, chairman of the All Pakistan Textile Mills Association, said that last year, the cotton price rose sharply to an abnormal $2.2/kg last year, but the Pakistani Textile Factory Association did not ask the government to interfere for a day. Instead, they took the initiative to continue to be free. Market mechanism and struggle.
The decline in cotton prices is a global phenomenon, and the Pakistani Textile Manufacturers Association has not taken any measures to reduce the cotton price. Therefore, the Pakistan Ginners Association’s propaganda on the manipulation of cotton prices by the All Pakistan Textile Manufacturers Association is unfounded.
This is not manipulation, but speculation by several ginners has caused recent fuss, Aziz said.
Aziz said that if Pakistani trading companies interfere, if they are inescapable, then on a broad basis, the All Pakistani Textile Manufacturers Association should also get permission to bid for a Pakistani trading company. Currently, the textile industry has only 4.5 million bales of cotton stock. .
Aziz added that the government should provide every stakeholder with an equal opportunity to use this opportunity instead of adopting a different attitude in the event of damaging the state's resources.
The Pakistani Ginners Association's proposal to increase cotton stocks by Pakistani trading companies to prevent the decline in cotton prices has been submitted to the Ministry of Textiles, but the Ministry of Textiles has not yet decided.
Delegates said that as of December 15, 2011, 11 million bales of cotton had arrived, and by December 31, the arrivals would have increased again to about 12.2 million bales.
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