Source: CAI

November 21, 2014 RECORDER REPORT (Source: Business Recorder)

Pakistan Cotton Ginners Association (PCGA) has called an emergency General Body meeting on Friday to yank the industry out of crisis. Chairman of PCGA Haji Hafeez Anwar said "we seriously considering to go on strike as a protest against the government policies, imposing five percent General Sales Tax (GST) on the oil-cake, delaying tactics of Trading Corporation of Pakistan (TCP) and cartel of Textile Millers and final decision would be taken in the meeting."

Addressing a press conference here on Thursday, PCGA Chairman Haji Hafeez Anwar, Vice Chairman Rao Sadaruddin, Former Chairmen Haji Muhammad Akram, Sheikh Muhammad Saeed, Former Vice Presidents Shehzad Ali Khan and Sheikh Assim Saeed said the government should impose ban on the import of cotton or yarn or impose anti-dumping duty on the export of cotton and its products.

Trading Corporation should have to sign a contract with PCGA to buy the one million cotton bales instead of contacting the individuals and scrutiny of the cotton lint on its own.

Chairman of PCGA said there was a vast difference of Rs 7 to 10 lakh in the "lot" of 600 bales and TCP staff was expecting illegal gratification from the ginners and it was paving the way by rejecting the stock lying in the ginneries.

He demanded a premium for the good quality cotton and less price for inferior quality stock. They said that Ginners were custodians of the farmers' stock and more than 2.3 million bales were lying in their ginneries. They said that they were not able to clear the dues of farmers in prevailing crisis and they have no capacity to purchase more stock of raw cotton.

They said that Trading Corporation of India (TCI) was purchasing 15 million bales of cotton to stabilise the cotton prices in the market and it has started the buying while TCP was making merely lip-service and it was not taking practical step for procurement of one million bales. (Source: Business Recorder)