40 ginning factories added to handle cotton crop
He said that out of 40 new ginning factories, some 30 have been set up in Sindh while rest in Punjab. Giving a break up, he said that 15 ginning factories have been established in Sanghar district, seven in Mirpurkhas, while eight factories in Hyderabad and Kotri.
Four ginning factories are ready for operation in Chicha Watani, four in Burewala, while one each in Layyah, Arifwala and Mianwali, he added.
Usman said that the high prices of cotton and rising demand for ginning in the country has encouraged the investors to set up new ginning factories. These factories will help in handling the bumper crop of cotton in the country which is estimated at over 15 million bales this year, he observed. He pointed out that currently, 960 ginning factories are working in the country with 250 in Sindh, over 720 in Punjab and rest in Balochistan.
Referring to the gearing up activities in cotton trade, he said that a top commodity company on the globe Louis Dress of Switzerland has set up an office in Pakistan with the name of Louis Dress Commodities Pakistan Pvt Ltd to deal in cotton. Other international trading companies including M/s Cargil International of Switzerland and Noble Group of Singapore are also operating through their agents in Pakistan, he noted. Usman said that one ginning factory with five to six gin saws can be set up at a cost of Rs 60 to 70 million.—APP