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Aptma accused of conspiring against PCGA

RECORDER REPORT

KARACHI: Pakistan Cotton Ginners Association (PCGA) Chairman Sheikh Mohammad Saeed has accused the All Pakistan Textile Mills Association (APTMA) of hatching conspiracy against ginners.

In a statement issued by PCGA, Saeed said that he met the commerce minister and told him about the current cotton position and asked him to take appropriate measures to save the ginners and growers from further losses.

He said Aptma "is trying to dump" cotton in the ginning factories so that its members could buy at their own rates. They want Trading Corporation of Pakistan (TCP) to sell their stocks to them (Aptma).

He said the government must export the TCP stocks as the ginners had already stocks of 1.5 million bales and another 1 million is expected before the end of the season.

If the TCP brings its cotton stocks in the local market, the prices will again hit the bottom. The growers and ginners will not be to able to bear the shocks," he said.