Cotton pricing policy

Published June 2, 2005

KARACHI, June 1: All Pakistan Textile Mills Association Chairman Arif Saeed has again drawn attention of the government towards what he alleges the discriminatory condition of sale of cotton by the Trading Corporation of Pakistan to the local textile mills and exporters.

In a statement, the Aptma chairman alleged that the TCP was selling cotton to the local textile mills at Rs2,300-2,350 a maund while to the exporters at 45 cents a pound that came to Rs2,150 per maund.

“This discrimination in prices means that spinners in India and Bangladesh are getting Pakistani cotton at cheaper rates than the prices being charged from the local textile mills.” He urged the TCP to review this pricing policy which gave a clear advantage to the competitors of Pakistani mills.