KARACHI, Oct 19: The flow of phutti from the fields to the ginneries up to October 15, was slower by 24.29 per cent as compared to the corresponding period of last year.

According to official figures released by Pakistan Cotton Ginners Association (PCGA) on Friday, 1.711 million bales have reached ginneries up to October 15, as against 2.260 million bales recorded for the same period last year - a drop of 0.549 million cotton bales.

Similarly, the fortnightly flow (Oct 1-15) also remained short by 0.358 million bales at 0.846 million bales, down from 1.204 million bales recorded in the same period last year.

However, official production estimates of cotton for the year 2001-2002 had been placed higher at 10.9 million bales from the lower estimates of 8.7 million bales made earlier because of drought-like situation prevailing at that time. As a result of sufficient monsoon rains this year country’s water crisis to a greater extent had been resolved, if not completely.

Despite some setback coming out of Sept 11 attacks on US, the textile industry with enhanced capacity is expected to consume an average around 0.820 million bales per month taking the total yearly consumption to all time record high at around 10.5 million bales this season.

Chairman, All Pakistan Textile Mills Association (Aptma), Nadeem Maqbool told Dawn that the government should strictly follow free trade policy for cotton and TCP’s intervention was not protecting growers interest rather it was accumulating losses for the national exchequer.

Instead of allowing TCP to procure around one million bales at higher than market rates the government should directly subsidize growers’ input cost which would not only ensure crop size but also avoid accumulation of huge losses the state-run corporation would show at the end of the year, Nadeem said.

He appreciated the government achievement in getting greater access into EU market and removal of tariff on textile made-ups. He said with higher cotton production the country’s textile industry is now better placed to boost exporters.

The PCGA figures disclose that phutti arrival in Punjab continues to be very slow and up to Oct 15, 0.937 million bales reached ginneries as against 1.437 million bales of the corresponding period last year. The phutti arrival remained 34.81 per cent slower over the previous year.

However, situation in Sindh was slightly better where the crop is short by 5.91 per cent at 0.774 million bales compared to 0.823 million bales recorded in the same period last year.

The textile mills so far purchased 1.154 million bales compared to 1.408 million bales lifted by them in the same period last year.

Exporters continued to stay on the sidelines and lifted a meagre quantity of 4,396 bales as against 0.128 million bales purchased by them last year.

The TCP has so far purchased 23,901 bales this season compared to 9,800 bales lifted by the corporation in the same period last year.

The chairman, PCGA, Sheikh Mohammad Saeed, said that the slow arrival of phutti was mainly because of late sowing and cultivation of cotton due to water shortage and other reasons.

Due to late arrival of phutti, he said many ginning factories have delayed their operations and up till now 635 units have started their operations as against 797 last year.