Pakistani Foreign Minister Shah Mahmood Qureshi urged the Indian government to pledge to send 1 million bales of cotton to Pakistani importers as soon as possible at the request of the Ministry of Textile Industry and the All Pakistan Textile Mills Association (APTMA). The 1 million bales of cotton were stranded by India for three times. In the month, because the exporters are refreshing, they are unwilling to fulfill their contractual obligations.
The textile industry minister Rana Farooq Saeed and the president of the All Pakistan Textile Mills Association (APTMA) Gohar Ejaz called on the foreign ministers to understand the situation. They briefed the foreign minister on the difficulties faced by the textile industry due to the Indian government delaying the delivery of 1 million bales of cotton.
In October 2010, the Indian government informed the Pakistani foreign minister that the government would oblige all cotton exporters to obtain an export registration certificate before they could export, although India’s surplus exports amounted to 8 million bales.
Most of the contracts signed between Pakistan and Indian exporters were shipped in September and November 2010, and the prices were about $0.80-1.00/lb. Pakistan imports 3.5 to 4 million bales of cotton each year, including about 1.5 million bales of cotton imported from India.
The Indian government announced that it will allow exports of 5.5 million bales from November 1, 2010 to December 15, 2010. It should be pointed out that during this period, the cotton price in the international market increased from US$0.80 to approximately US$1.45/lb. Registration certificates provide exporters with an opportunity to withdraw their lower-priced contracts, and exporters say they did not receive a registration certificate within the required time.
APTMA President Gohar Ejaz emphasized that APTMA is not interested in the conditions proposed by the International Cotton Association (ICA) arbitration. They hope that after the Pakistani government agrees to export onions to India, India will take a positive attitude on the basis of reciprocity.
The president of APTMA urged the foreign minister to persuade the Indian government to send cotton to Pakistan.
The textile industry minister Rana Farooq Saeed and the president of the All Pakistan Textile Mills Association (APTMA) Gohar Ejaz called on the foreign ministers to understand the situation. They briefed the foreign minister on the difficulties faced by the textile industry due to the Indian government delaying the delivery of 1 million bales of cotton.
In October 2010, the Indian government informed the Pakistani foreign minister that the government would oblige all cotton exporters to obtain an export registration certificate before they could export, although India’s surplus exports amounted to 8 million bales.
Most of the contracts signed between Pakistan and Indian exporters were shipped in September and November 2010, and the prices were about $0.80-1.00/lb. Pakistan imports 3.5 to 4 million bales of cotton each year, including about 1.5 million bales of cotton imported from India.
The Indian government announced that it will allow exports of 5.5 million bales from November 1, 2010 to December 15, 2010. It should be pointed out that during this period, the cotton price in the international market increased from US$0.80 to approximately US$1.45/lb. Registration certificates provide exporters with an opportunity to withdraw their lower-priced contracts, and exporters say they did not receive a registration certificate within the required time.
APTMA President Gohar Ejaz emphasized that APTMA is not interested in the conditions proposed by the International Cotton Association (ICA) arbitration. They hope that after the Pakistani government agrees to export onions to India, India will take a positive attitude on the basis of reciprocity.
The president of APTMA urged the foreign minister to persuade the Indian government to send cotton to Pakistan.
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