ISLAMABAD, Oct 23: The Trading Corporation of Pakistan will invite next week tender for export of 20,000 bales of cotton purchased recently.

An official at the commerce ministry told Dawn that the decision was taken at the directive of Prime Minister Shaukat Aziz for early disposing of cotton stock.

The TCP had already made contracts for 335,000 bales with ginneries. Of these, 40,000 bales have reached the TCP godowns. When contacted, TCP Chairman Syed Masood Alam Rizvi confirmed that the TCP would invite tender next week for the export of 20,000 bales.

In reply to a question, Mr Rizvi said cotton could be exported to any country, including India. He said the destination for cotton export would be on buyer's decision. He said that for the remaining 20,000 bales tenders would be invited later on.

Mr Rizvi said the cotton stock with the TCP would increase further in the next few days as the stock was on way to the godowns. He said the TCP was aggressively buying cotton to help stabilize cotton prices in the market to the benefit of growers.