The Trading Corporation of Pakistan (TCP) has assured the Pakistan Cotton Ginners Association (PCGA) that newly established 10 cotton procurement centres and godowns would be operational from January 3 to expedite buying of lint, the sources said here on Friday. TCP Director Muhammad Malik gave the assurance to the PCGA delegation, headed by Chairman Haji Ibrahim, during a meeting the other day, they added.

The PCGA delegation met the TCP chairman Masood Alam Rizvi and other TCP officials to convey the ginners concern about slow buying and unloading of lint.

The TCP management noted the ginners' problems during the meeting and told the PCGA delegation that with becoming operational of more centres, TCP storage capacity would increase considerably.

The TCP has established 10 new cotton godowns in various cities of Sindh and Punjab to store each bale picked up from the ginners. The new godowns set up in the cities of Dera Ghazi Khan, Multan, Rahimyar Khan, Shikarpur, Dharki, Sukkur, Ghotki, Burewala and Lodhran.

The TCP is buying crop from the open market on the directive of the government to stabilise the prices. This policy has been a success.

The TCP intervention is keeping lint and raw cotton (phutti) prices at reasonable level and so benefiting both the growers and ginners.

It may be noted lint and raw cotton (phutti) rates are ranging between Rs 1900 and 2000 and Rs 850 and 950 from the very arrival of the crop at the ginneries.

The TCP picked up 1.8 million bales as on December 31 and 1.2 million bales have already been unloaded at its godowns.

Copyright Business Recorder, 2005