20000208

APTMA seeks

spinners role

in cotton auction

LAHORE: Chairman All Pakistan Textile Mills Association (APTMA) Punjab Zone, Abid Farooq has urged the government to allow the local spinning industry to participate in the auction bids held for the sale of TCP procured cotton.

In a press statement he said, the local industry should also be given a chance to benefit from the recent surge in the world cotton rates. The recent reports by PCGA revealed that the local industry procured 31.64 percent more cotton during August and September, 1999 as compared to that procured in the corresponding period the preceding year.

He said cotton consumption is expected to rise sharply in the present year after the revival of the textile sector. The local industry is not demanding any price concessions from TCP, it simply wants to compete with the bids offered by the exporters, he added.ÑPPI