MULTAN - Seed cotton (Phutti) equivalent to over 4.8 million or exactly 48,75,222 bales has reached ginning factories across the country till March 1, 2023 registering decrease of 34.49 percent as compared to corresponding period of last year. According to a fortnightly report of Pakistan Cotton Ginners Association (PCGA) released on Friday, over 4.8 million or 48,56,178 bales have undergone the ginning process i.e converted into bales. Cotton arrivals in Punjab were recorded at over 2.9 million or 29,96,203 bales registering a decrease of 23.74 percent as compared to corresponding period of last year when arrivals were recorded 39,28,690 bales. Sindh generated over 1.8 million or 18,79,019 bales registering a decrease of 46.51 pc as compared to the corresponding period of last year when arrivals were recorded 35,13,143 bales. Textile sector bought 44,21,007 bales while exporters purchased 4900 bales and Trading Corporation of Pakistan (TCP) didn’t buy during the cotton season 2022-23. Sanghar district of Sindh topped with 8,13,526 bales followed by Bahawalnagar district of Punjab with 6,06,914 bales. Total 97 ginning factories were operational in the country. Exactly 4,49,315 cotton bales unsold stock was available in ginning factories. Pervaiz Ashraf says country will never default
The Nation, 04 Mar, 2023