KARACHI, Dec 2: The Trading Corporation of Pakistan (TCP) has contracted for the purchase of 65,000 bales of lint cotton at its procurement centres across the country.

A TCP official said here on Tuesday that out of total, 41,800 bales were procured in Punjab, 23,000 in Sindh and 200 in Balochistan.

He said the TCP began cotton procurement on Monday. On the first day 4,400 bales were procured, while 60,600 bales were bought on Tuesday, he added.

The TCP is contracting for lint cotton at Rs3,202 per maund (37.324 kg) from ginners on the directives of the federal government to stabilise the market and ensure a fair return to the growers.

The TCP has set up 13 centres in cotton belts across the country, of which eight centres are in Punjab, four in Sindh and one in Balochistan. —APP