The Trading Corporation of Pakistan (TCP) has been directed to vigorously pursue cotton procurement campaign to stabilise prices. This was decided in a meeting of inter-ministerial committee held here on Tuesday to review cotton procurement by the TCP and prevailing market prices of seed-cotton (Phutti).
The committee has also directed the TCP to initiate measures for the export of cotton delivered by ginners as soon as they receive 20,000 bales.
The meeting was informed that the government is trying to provide requisite price of Rs925 per 40kg.
The meeting decided to enhance TCP's cotton procurement limit from ginners from 1,000 to 2,000 bales.
The committee directed the TCP to make its warehouse at Multan operational to serve cotton areas of Rajanpur, Vehari, Sahiwal, Lodharan, Khanewal, D.G. Khan, Muzaffargarh, etc.
The meeting was informed that the TCP is doing well and up till now the corporation has procured 264,400 bales. It also informed that due to TCP's efforts, cotton price has improved from Rs700 to Rs920.
It was also informed that all measures have been taken to encourage growers to sell their cotton to the TCP and the corporation will remain active till farmers get Rs925.
According to market reports, in districts included Rahim Yar Khan, Bahawalpur and Sadiqabad, cotton price is around Rs900, while at other stations, it is fluctuating between Rs650 to Rs900.
To a question, the Minister for Food and Agriculture said cotton production will touch the figure of 11.6 million bales during the current year.
The meeting was chaired by Federal Minister for Commerce Hamayun Akhtar Khan and attended by Minister for Food, Agriculture and Livestock Sikandar Hayat Bosan, Minister for Industries and Production Jehangir Khan Tareen, Minister for Textile Industry Mushtaq Cheema and Minister of State for Commerce Hamid Yar Hiraj.
Besides, senior government officials, representatives of private sector including Aptam, POGA and growers were also present.