960422

Ex-official of

KCA defends

cotton policy

RECORDER REPORT

KARACHI: On the condition of anonymity, former KCA top executive has defended the cotton policy, and has termed the bids to paint it black as misleading.

Wishing not to be quoted he said that he was simply amazed to come across the "observations" incorporated in the trade policy. Proposals were seemingly compiled by the FPCCI without consultation with the competent cotton quarters", he said.

"Had FPCCI bothered to convene a meeting of its managing committee, and consult cotton quarters, a realistic picture would have emerged," he said.

The listed recommendations regarding export of cotton casts general impressions that the policy of the govt was unrealistic. In fact, the policy was in the best interest of the country and of all sectors of the cotton trade, he said.

He hoped that, in future relevant cotton traders would be consulted to avoid such mishaps in the course of formulating proposals for the sake of incorporation in the trade policy, vis-a-vis-cotton trade.