Pakistan Cotton Ginners Association (PCGA) has decided to export the ginned cotton to come out of the crisis because Textile cartel was not purchasing the cotton from the ginneries to bring the rates at the lowest ebb.
PCGA chairman Chaudhry Muhammad Akram met a number of exporters in Karachi on Friday for the disposal of unsold stock and they agreed to export their cotton to different countries. PCGA sources said that neither Government has announced the support price of raw cotton nor decided to purchase cotton through Trading Corporation of Pakistan (TCP) on reasonable rates.
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