KARACHI (February 24 2004): The government may consider allowing Karachi Cotton Association (KCA) to start Hedge Trading, said Federal Minister for Food, Agriculture and Livestock, Sardar Mohammad Rind, on Monday.

He was addressing members of the KCA while visiting the Cotton Exchange.

The Minister said that a committee comprising all stakeholders of cotton, duly appointed by the Federal Government, had examined Hedge Operation in detail.

In the light of the recommendation of the Committee, the KCA, which had been successfully operating Hedge trading in cotton prior to suspension may be allowed to resume such operations under its aegis, said the minister.

The minister said that cotton policy for 2004-05 has been formulated and invited views of the stakeholders.

KCA Chairman Iqbal Umar urged the minister to work on war footing for increase in the cotton production at least up to 15 million bales in the coming years.

He said that the government should increase area under cotton cultivation, and emphasised need for increase in yield per acre.

Courtesy Business Recorder