FPCCI seeks immediate reopening of Cotton Exchange Building, warns of mounting trade disruption

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Monday pressed the authorities to immediately restore the historic Cotton Exchange Building to the Karachi Cotton Association (KCA) and its legal tenants, saying the prolonged closure has disrupted business activity across Pakistan's cotton value chain.

The business body said 209 commercial offices housed in the building have been forced to cease operations, including many that have functioned continuously since Pakistan's creation in 1947.

Calling for implementation of the Sindh High Court's order, FPCCI Vice President and Regional Chairman Sindh Abdul Mohamin Khan urged the authorities to hand over possession of the building to the KCA and its lawful occupants without further delay.

The federation also expressed concern over the suspension of the KCA's Fibre Testing Laboratory, saying the facility, equipped with a High Volume Instrument (HVI) 1000 M1000, has long provided cotton testing services to the country's cotton trade and textile industry. Khan noted that the laboratory has been ranked the world's top cotton testing laboratory.

FPCCI Senior Vice President Saquib Fayyaz Magoon said the Cotton Exchange Building has historically served as the centre of Pakistan's cotton economy, housing cotton merchants, exporters, brokers, service providers and businesses connected to the textile supply chain. He said the continued closure has adversely affected stakeholders and interrupted the functioning of an institution that has supported the country's cotton economy for generations.

FPCCI President Atif Ikram Sheikh said the Karachi Cotton Association, established in 1933, has played a central role in the development of Pakistan's cotton trade by promoting market transparency, facilitating price discovery, coordinating stakeholders and supporting the industry's operations.