PCGA to float tenders for ginners' balance stocks

Pakistan Cotton Ginners Association (PCGA) export cell has decided to float international tenders for export of 0.2 million bales cotton this month. For this purpose all ginners holding stocks of cotton would be bound to get registered with the export cell.
Secretary of PCGA Muhammad Mehboob Alam said here on Saturday that a number of measures have been taken for early shipment of cotton. He said that ginned cotton would be lifted from ginning factories directly and letters of credit (LCs) would be opened in the name of the ginners while PCGA export cell would serve as co-ordinator and it would be responsible for the sale of cotton in the international market and PCGA would ensure the fulfilment of the commitment.
Ginners and export cell would reach an agreement for the security, guarantee, terms and conditions and quality of cotton. He said that date for the opening of tenders would be settled with consensus.
However, registration process would be completed within a week, and cotton would be exported through the nearest dry port and would be transported to Karachi through containers and payment would be made within 24 hours after the departure of containers.
He said that PCGA had received good response from foreign buyers and they are intending to purchase maximum stock from Pakistan. This step would help in maintaining balance in imports and exports, besides creating place in international market and earning maximum foreign exchange.
He said that cotton growers and ginners would not be at the mercy of local textile millers in future and they would sell their produce at better price in any country of the world. He said that PCGA had established the export cell on permanent basis aimed at ending the monopoly of Aptma and creating competition in the market.
He hoped that ginning would become a profitable business in future and they would be able to do business on cash payment.
He said that ginners were not getting fair return of their good quality cotton in Pakistan because buyers were not ready to pay premium. He said that ginners had to visit the textile mills for eight months to get the amount.
He said that ginners carry on ginning only for four months and remaining part of the year spend in recovery. Now they would be in a position to sell their produce on cash payment only.