Six licensed cotton brokers from Naseem Usman Panel have been duly elected unopposed as members of the Broker Advisory Committee of Karachi Cotton Association for the years 2019-20.

Muhammad Naseem Usman, Chairman; Abdul Jalil Khan Vice Chairman; Taqi Abbas, Secretary; Chander Lal, Joint Secretary; Ali Muhammad Taufique Haroon, Treasurer And Girdhari Lal Assudomal Public Relations.

The Chairman of the Broker Advisory Committee has stated on behalf of the panel that they would like to thank all 320 KCA brokers for their trust on them. They would continue with their effort for resumption of hedge trading under the KCA platform, which would be beneficial for all stakeholders of the cotton & textile industry.

At present it in PMCL from last five years which inactive. They would also continue to look after the interests of the Broker Committee.

Chairman Karachi Cotton Brokers Forum told that this year due to untimely rains and extreme hot weather in the areas of cotton production crop was attacked by different kinds of germs and viruses and attack of White Fly and Pink Ball Worm had destroyed the standing crops due to which crop suffers irreparable loss. After suffering huge loss farmers were disappointed and they cut their crops before time. On the other hand cotton crop was affected due to the use of substandard seeds and pesticides.

Ginners as well as farmers were affected due to the reduction in per acre. This year due to disappointed many ginners had not started their factories and few ginners after starting operations for some time close their factories. Farmers were of the view that they had suffered a huge loss and they will be not sow cotton next year.

Naseem Usman said Government should take positive steps to increase the production of cotton in the next season specially by providing good quality seed and government should also make arrangements for the import of good quality cotton seed from abroad. It is feared that if government had not taken steps for the increase of the cotton crop then after years there will be no cotton in the country.-PR

Copyright Business Recorder, 2019