Stories in the
Saturday, 29 September 2018, 00:00:00
SPEECH BY THE OUTGOING CHAIRMAN, THE KCA,
KHAWAJA TAHIR MAHMOOD
My Colleagues on the Executive Committee
Distinguished Members of the Association,
It gives me great pleasure to welcome you to the Ordinary General Meeting of the Members of the KCA. A brief is given below about Cotton Situation and activities of KCA during our tenure.
LOCAL COTTON SITUATION FOR 2017-18:
The target of cotton production in Pakistan for 2017-18 (in terms of bales of 375 lbs. each) was initially fixed at 14.04 million bales (Punjab 10.00 million bales, Sindh 4.00 million bales, Baluchistan 0.038 million bales and KPK 0.002 million bales) from an area of 3.109 million hectares.
According to the final Report of the PCGA for the year 2017-18, the total arrivals of cotton in ginneries as on 01.05.2018 were 11.582 million bales.
According to Pakistan Bureau of Statistics, the exports of cotton during the year 2017-18 (Aug.-July) was recorded about 35,000 M.T, imports of cotton about 625,000 M.T. and Mill consumption at about 16.09 million bales as per Textile Commissioner’s Organization.
COTTON SITUATION FOR 2018-19:
The target of cotton production for 2018-19 was fixed by the Government at 14.37 million bales (Punjab 10.00 million bales, Sindh 4.20 million bales, Baluchistan 0.150 million bales and KPK 0.020 million bales).
Cotton crop for 2018-19 season has been cultivated over 2.7 million hectares showing an increase of about 2 percent as compared to cultivation of 2.6 million hectares recorded in the corresponding period of last season. The targets were fixed at 2.95 million hectares for 2018-19 season. The cotton area cultivated in Punjab had been registered at 2.290 million hectares which comprises 99.3% of the target and about 11.5% more as compared to 2.053 million hectares registered in previous season. However, crop cultivation in Sindh during current season witnessed decrease of 31.0% as compared to corresponding period of last season. Due to severe shortage of water only 68.0% sowing had been recorded against the target. In the standing crop, pest incidences of white fly, Jassid, Thrips, Mealy Bug and CLCV in some districts of Punjab. At this stage it is very essential to overcome the pest attack.
However, the Cotton Crop Assessment Committee (CCAC) in their first meeting held on 12.09.2018 slashed cotton production estimates by about 25 percent i.e. to 10.847 million bales against the initial estimates of 14.37 million bales for the cotton season 2018-19.
INTERNATIONAL COTTON SITUATION (2018 -19 as on August 2018 ):
WORLD COTTON SITUATION ( 2018-19):
According to the USDA, world cotton production for 2018-19 is estimated to decline to 120.53 million bales (bale of 480 lbs.) from 123.51 million bales in 2017-18. Major decline in cotton production is projected in Australia, China and USA where production is estimated to decline to 3.55, 26.50 and 19.23 million bales from 4.70, 27.50 and 20.92 million bales respectively.
World cotton consumption is estimated to increase to 127.62 million bales in 2018-19 against 122.74 million bales of actual consumption in 2017-18. World exports for 2018-19 are estimated at 41.82 million bales as against 40.79 million bales in 2017-18. The ending global stocks for 2018-19 declined to 77.10 million bales from 84.51 million bales in 2017-18 i.e. 7.41 million bales less than the previous year.
INTERNATIONAL AND NATIONAL PRICE FLUCTUATION:
The New York Cotton Futures latest delivery month recorded at US˘ 71.17 per lb at the beginning of the season on 01.08.2017, increased to the highest level of US˘ 95.21 per lb on 12.06.2018. However, the New York Cotton Futures latest delivery month recorded as US˘ 90.28 per lb as on 31.07.2018.
During the year of 2017-18, the farmers got fair price for their produce as the Ex-Gin price of cotton recorded between Rs.6,000/- to Rs. 8,700/- on an average basis.
GUESTS AND OTHER ACHIEVEMENTS:
VISIT OF MR. SALMAN ISPAHANI, PRESIDENT AND
MR. BILL KINGDON, MANAGING DIRECTOR
INTERNATIONAL COTTON ASSOCIATION
TO THE KCA ON 14.03.2018:
Mr. Salman Ispahani, President and Mr. Bill Kingdon, Managing Director of International Cotton Association visited the KCA on 14.03.2018, held a meeting with the Executive Committee and senior members of the Cotton Trade and discussed matters relating to safe trading practices and arbitration etc.
Chairman, the KCA presented the address of welcome and thanked the worthy President and Managing Director of the ICA, for visiting the KCA despite their busy schedule in Karachi and highlighted the role and function of the KCA in regulating cotton marketing and trading in Pakistan and said that the KCA has the privilege of fixation of Spot Rates of Cotton on daily basis, which is the base for entire cotton trading activities in Pakistan etc.
Mr. Salman Ispahani, President, the ICA briefed about the activities and initiatives taken by them to promote and explore avenues for strengthening relationship between the two Associations in enhancing the trade and arbitration in the world.
Mr. Bill Kingdon, Managing Director, ICA explained about purpose of visiting to Pakistan, development taking place in the world, the cotton trading, arbitration and membership matters of the ICA etc.
KCA’s FIBER TESTING LABORATORY EQUIPPED
WITH STATE OF ART USTER HVI 1000 M 1000
(THE FIBRE CLASSIFICATION AND ANALYSIS SYSTEM)
On the request of the Karachi Cotton Association and recommendation of the Ministry of Textile Industry, the Board of Administrator of Export Development Fund (EDF), Ministry of Commerce sanctioned Grant/Donation out of Export Development Fund (EDF) for import of One Uster HVI 1000 M 1000 (the Fibre Classification and Analysis System) by the KCA so that cotton testing facility could be provided to the cotton exporters /traders/ merchants and textile mills with a view to increase/boost export of cotton and its valuable products and earn much needed foreign exchange for the country.
After revamping the KCA’s Fiber Testing Laboratory by maintaining maximum necessary standards of the Lab, the State of Art Uster HVI 1000 M1000 has been installed in the KCA’s Laboratory to provide much needed Cotton testing facility to the members of the Association and the Cotton Trade.
2-WEEK COTTON GRADING AND CLASSIFICATION
COURSE AT THE KARACHI COTTON ASSOCIATION
Tthe KCA organized a 2-week Cotton Grading and Classification Course in-collaboration with PCSI from April 02, 2018 to April 13, 2018 in the premises of the Association to impart training in the field of Grading and Classification of Raw Cotton / Lint Cotton.
In the 2-week Cotton Grading and Classification Course, besides the practical training regarding Cotton Grading and Classification was provided to the participants of the course, lectures on various topics of the cotton trade were delivered by the speakers and visits to the PCSI and textile mill were also arranged for the participants of the course.
The participants of the course, in their written feedback appreciated the KCA to organize the training course in a good manner and expressed their full satisfaction regarding the abilities of the trainers and arrangements of the course.
CONFERMENT OF SITARA-E-IMTIAZ ON
MIAN ZAHID BASHIR, AND MIAN MUHAMMAD
ABDULLAH, BY THE PRESIDENT OF PAKISTAN ON 23-03-2018
The President, Islamic Republic of Pakistan had conferred “Pakistan Civil Award” Sitara-e-Imtiaz on Mr. Zahid Bashir, Former Chairman, the KCA and Mian Muhammad Abdullah, Chief Executive, M/s. Sapphire Group of Companies on March 23, 2018 in recognition of their valuable / notable services in the fields of Public Service/Social Service and Public Service (Industry) respectively.
The KCA hosted a Dinner in honor of Mr. Zahid Bashir, Former Chairman, the KCA and Mian Muhammad Abdullah, Chief Executive, M/s. Sapphire Group of Companies on 01-08-2018 at Karachi Marriott Hotel.
Khawaja Tahir Mahmood, Chairman KCA briefed the audience about remarkable services rendered by Mian Zahid Bashir, Former Chairman, KCA through “Patients Aid Foundation” a prestigious private Sector organization catering Health Care facilities in Karachi.
While Mian Muhammad Abdullah, Founder & Chairman Sapphire Group of Companies has direct Employees to 27000 and takes part in Philanthropic activities through Abdullah Foundation, a charitable organization.
Rear Admiral Asif Khaliq HI (M), Trustee, KPT presented Shield to Mian Zahid Bashir, Former Chairman KCA and Syed Mazhar Ali Nasir, Senior Vice President, FPCCI presented Shield to Mian Muhammad Abdullah, Chairman Sapphire group of Companies
Before closing my speech, I congratulate the new Executive Committee on their election for the year 2018-19 and hope that the new Committee would meet the day to day challenges, problems which might come during their tenure, effectively in the best interest of the Association and cotton trade.
I express my deep thanks to Mr. Asif Bahir, Senior Vice-Chairman and Mr. Naser Wahab, Vice-Chairman, the KCA for the dedicated and devoted services rendered by him to run the affairs of the Association effectively. I also express my deep thanks to my colleagues on the Executive Committee and members of the Association for providing all assistance, co-operation and guidance during my tenure as Chairman.
I record my appreciations for the efficient, dedicated and devoted services rendered by Mr. Aftab Alam, Secretary General, Mr. Muhammad Ali, Assistant Secretary (Stat.), Mr. Hassan Haider, Account Officer, Sh. Abdul Qadir Ahmed, BA/MO and Other Officers and staff of the Association during the year under review.
I also express my thanks to the Press for extending their full co-operation in covering the activities of the Association during my tenure as Chairman, The KCA.
I thank all of you once again.
(Khawaja Tahir Mahmood) BR>
The Karachi Cotton Association