Pakistan Will Convene Cotton Acquisition Conference To Determine Purchase Price Of Lint Cotton
According to PCGA, Pakistan's decision to allow Pakistan trade company (TCP) to buy cotton is influenced by the conditions set out by the International Monetary Fund (IMF).
Mr. Chaudhry Muhammad Akram Jatt, President of PCGA, told the media that there was no supporting price of major commodities, including cotton, in a report submitted to the prime minister by the planning committee.
He said that in November 25, 2008, the Minister of textiles would preside over the meeting.
Besides the president of TCP, the textile secretary, Finance Secretary and textile minister will attend the meeting.
The main task of the conference is to determine the purchase price of lint.
TCP will buy cotton from the ginning merchants on behalf of the government. The conference will determine the target of TCP's lint purchase.
TCP's account has received 500 thousand rupees, and the Ministry of agriculture, animal and animal husbandry has announced the support price of cotton, which is 1456 rupees per 40 kilograms.
He said very decisively that he would not allow the IMF to interfere in cotton acquisitions.
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