KARACHI, Oct 1: The Trading Corporation of Pakistan on Friday entered into procurement contracts for 28,600 bales of cotton from ginneries, making a total procurement of 35,500 bales since Monday.

According to the TCP, these contracts were made in Mirpurkhas, Nawabshah, Sukkur, Rahim Yar Khan, Multan, Sahiwal, Haroonabad and Vehari. Lint cotton of Grade Box III was procured from ginners at the government's prescribed rate of Rs2,314 per 40 kg.

The TCP has established 12 cotton procurement centres in the country, eight of them in Punjab, three in Sindh and one at Dera Allahyar in Balochistan.

The TCP said the procurement would continue to ensure that prices were stabilized in the market and a payment of support price of Rs925 was paid to the growers. -APP