PCGA warns of closing 1200 factories

KARACHI: Pakistan Cotton Ginners Association (PCGA) on Sunday once again demanded of Pakistan Trading Corporation (PTC) to buy cotton bales from ginners in order to protect them from complete destruction and warned that if the government does not facilitate them, they will be compelled to close more than 1200 ginning factories across the country.

In a statement, Senior Vice Chairman PCGA Prem Chand Kyatani said that ginners had more than 700,000 cotton bales but there was no demand in the market as yarn import from India was continued. “Ginners are on the verge of destruction as they have no money to pay to growers and banks,” he added.

He said that in this situation, it was the duty of PTC to buy the cotton from ginners, or government should impose immediate ban on yarn import from India. “If government does not facilitate ginners forthwith, they will have no other option to close their more than 1200 factories in the country,” he concluded.

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