20000215

Ginners concerned

over delay in

payment by TCP

RECORDER REPORT

KARACHI: Ginners have expressed serious concern that the Trading Corporation of Pakistan has not paid for the cotton it purchased despite a lapse of three months.

The Chairman of Pakistan Cotton Ginners Association, Sheikh Mohammad Saeed said that the delay in payment by TCP was creating problems and difficulties to ginners.

The TCP had promised to make final payment within 15 days "but three months have gone and payment is yet to be cleared."

The remaining payment of 20 percent should have been cleared much earlier. "It is making difficult to defray the bank liabilities and paying back to growers by the ginners," said Saeed.

The ginners appealed that the TCP should expedite the finalisation of payment for goods supplied by them so that the financial impasse of ginners be eliminated and the payment to growers may be possible, Saeed added.