LAHORE – All cotton trade agreements, took place prior to the export ban by Indian government, have been held back by exporters, which shows dishonouring of Indian traders’ commitments.
This was stated by All Pakistan Textile Mills Association (APTMA) Central Chairman Mohsin Aziz. He criticised India for banning export of cotton and termed it as against international trade norms. Mohsin deplored that Indian government’s trade policy was directed to undue favours to its textile industry, particularly spinners, over the interests of farmers. Unfortunately, he said, the farmers have not been given due consideration in policymaking.
He said APTMA has always been critic to any such move either within or outside the country and preferred to stick to fair play. He further said that APTMA takes cotton farmers as backbone of industry and a partner in growth. That is why, he added, APTMA has never supported intervention to free market mechanism even in worst circumstances and opposed always a ban on cotton export. Textile industry is not as selfish as in India and it takes farmers as part of their community, he asserted. Mohsin recalled that APTMA had objected a recent move of Trading Corporation of Pakistan, trying to procure cotton bales on whims of a few unscrupulous elements. He said APTMA objected the move forcefully and government agreed with the point of view that a second buyer of cotton always exists in the form of international market.
He said Pakistan textile industry was competing in highly odd circumstances including energy crisis, high bank mark up and sluggish trends in the international market but still it is supportive to the idea of free market mechanism. He said APTMA further expects from regional partners and competitors that they would also follow the trade principles to promote healthy competition in the region.