Daily Times

Chairman, Pakistan Cotton Ginners Association (PCGA), Suhail Mahmood Haral has lauded the government for allowing Trading Corporation of Pakistan (TCP) to intervene in the cotton market as a second buyer in case of price fall to ensure stability.

It would go in favour of farmers and ginners by reducing the impact of the single-buyer-cotton-market that had bothered the farmers and the ginners for years.

Mr Haral expressed these views in a meeting with TCP Executive director finance Syed Shakeel Ahmad and general manager cotton Sher Muhammad Meher at PCGA House where secretary agriculture south Punjab Saqib Ali Ateel and other officials were also in attendance.

TCP officials discussed important relevant matters with the PCGA office bearers after the approval of TCP intervention by the government as second buyer including procurement, cotton standards, payments and others in the meeting held here the other day, PCGA spokesman said.

PCGA chairman said the government took the decision while understanding the point of view of ginners and promised to extend full cooperation to TCP in honoring the relevant terms and conditions.

PCGA also assisted TCP and agriculture department’s official team in visiting different ginning factories. Suhail Mahmood Haral hoped the government would procure cotton at good price to help speed up the revival of the cotton crop.

Additional secretary agriculture south Punjab and other PCGA members were also present. It may be noted that the intervention price for seed cotton procurement by TCP has been set at Rs5000 per 40 kilograms of cotton, however, the market price was around Rs6000.