June 9, 2002	Sunday	Rabi-ul-Awwal 27,1423

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MULTAN, June 8: Pakistan Cotton Ginners Association has once again expressed concern over the unsold stocks of cotton lint, especially, when the new crop from Sindh will start arriving in the market next month.

PCGA Chairman Abdul Rasheed Khan through a press statement on Saturday said some 604,956 bales of lint cotton were still lying with the ginneries from the carry-over stock of the season 2001-2002.

He slammed the government for not honouring its promise to make procurements of about one million bales of cotton through Trading Corporation of Pakistan (TCP). “The TCP authorities have not given any importance to the announcements as all the unsold stocks of cotton will be officially procured,” he said.

He alleged the TCP had been playing the role of an agent of textile millers by not complying with its mandate to procure one million bales of cotton and for maintaining a slow pace of procurement throughout the season.

The official procurement rate of lint was fixed Rs1,855 per maund, he said, adding the TCP was offering Rs1,600. He said the cotton marketing crisis had devasted the rural economy of the country.

The official warned if the government did not materialize its promises regarding the TCP mandate, the current cotton crisis would take a serious turn as the growers’ lack of confidence in the country’s single largest cash crop was evident from the sowing figures this year. He said the cotton acreage in Punjab fell short by 20 per cent till May 31 last as compared to the corresponding period previous year.

Mr Khan urged the government to ensure disposal of all the unsold stocks of cotton before the arrival of fresh crop.