Procedural glitch halts Pakistan’s cotton exports to India (Pakistan)
The export of cotton from Pakistan across the border to neighbouring India has hit a procedural hurdle, the Pakistan Cotton Ginners Association (PCGA) has said.
The PCGA claimed that the Trade Development Authority of Pakistan (TDAP) officials were not registering and processing the new cotton deals, which has adversely impacted the prices of cotton in Pakistan.
There is an unprecedented arrival of new cotton crop in the country, and this should have normally resulted in revival of cotton exports, along with a halt in imports, the PCGA said.
The cotton crop is yet to mature in India and hence there is a huge demand for Pakistani cotton in the Indian market. Accordingly, export deals for more than 1,000 tons of cotton have been finalized, but the crop is yet to be dispatched, the PCGA added.
Although there is no ban on cotton exports, the TDAP says the exports can begin only after a new trade policy takes effect in place of the trade policy 2009.
The PCGA urged the Federal Ministry of Commerce to direct the TDAP to immediately process the cotton consignments meant for export.
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