The inter-ministerial committee on cotton will meet in Karachi on Thursday to review crop situation and its arrival at the ginneries. The ministers for commerce, industries and production and food and agriculture, who are also members of the committee, would attend the meeting. The representatives of All Pakistan Textile Mills Association (Aptma), cotton growers and ginners would represent their respective bodies' case during the meeting.
A five-member Pakistan Cotton Ginners Association (PCGA) delegation comprising its Chairman Haji Ibrahim, Shaikh Farooq, Dalip Kumar, Jaith Anand Kohistani and Rana Sattar would inform the committee on the cotton arrival at the ginneries and crop prospects and stocks available with the ginners.
Senior federal and provincial officials of the concerned ministries, Karachi Cotton Association (KCA) and Pakistan Cotton Crop Committee (PCCC) have been asked to ensure their presence during the meeting.
The Trading Corporation of Pakistan (TCP) chairman is also supposed to attend the meeting to brief the committee on cotton buying operation and prevailing price trend. Market analysts believe that the TCP intervention was inevitable to keep cotton prices at some reasonable level.
They argue that in the presence of TCP none of the buyers could exploit market to get cotton at its desired rates as it was in practice in the past. Sources said the PCGA delegation would press the government for more contact between the TCP and the ginners to avoid any downward trend in the cotton prices in the weeks to come.
The cotton market is very volatile and even slight reduction in rates could substantially bring down the prices and adversely hit at least to two important players - ginners and growers.
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