Cotton buying by government increases rapidly

The buying of cotton by government has increased rapidly in a week but the ginners were found very slow as compared to government's fast drive.
The Trading Corporation of Pakistan (TCP) said it has so far purchased 191,200 bales, both from Sindh and Punjab.
However, the ginners have dispatched only 6,600 bales to the TCP against the total contracts. The TCP was buying cotton at Rs 2,159 per maund, while the ginners were expecting more and adopted a "wait and see" strategy.
The contract with the TCP lapses after 15 days if cotton is not sent to the TCP godowns. In the hope of higher prices most of the ginners were still waiting, while the arrival was on peak and prices were still uncertain.