MULTAN, May 6: The Pakistan Cotton Ginners Association has threatened to go on hunger strike till death to press the government to activate the Trading Corporation of Pakistan to procure the unsold cotton stocks immediately.

In a press statement here on Monday, PCGA chairman Abdul Rasheed criticized the TCP for its failure to accomplish its mandate to procure one million bales of cotton in 2001-2002, in order to maintain a certain level of price stability in the market.

He alleged the All-Pakistan Textile Mills Association had aggravated the cotton crisis by importing some 1.2 million cotton bales. As many as 1.04 million cotton bales had been lying unsold at the ginneries across the country by May 1 last, while phutti worth Rs4 billion with the growers was still awaiting disposal at a time when cotton sowing had been initiated. He said a recession-like situation was prevailing in the country due to cotton crisis.

He said the ginners had been unable to pay their dues both to the banks and the growers owing to unsold stocks. Consequently, the ginners were incurring markups while growers were finding it difficult to invest in the next crop.

He said the TCP had failed to complete its task (procurement of one million cotton bales) despite assurances given by President Musharraf in this regard. He urged the president to take note of the situation.

Meanwhile, a 20-member delegation of ginners left for the federal capital on Monday to hold talks with the authorities concerned for the redressal of their woes multiplied due to the negative tactics of the TCP and the Aptma.