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ICA to hold training session on its rules in Lahore
 
 
 

Lahore : Chairman APTMA Punjab S M Tanveer has said that the International Cotton Association (ICA) will hold a training session on ICA rules in Lahore soon. He was welcoming a delegation of ICA, headed by Mohit Shah, President ICA, at the APTMA Punjab office on Friday. He said cotton import under ICA rules indicates that litigation is expensive and biased in favour of shippers and against importers. According to him, other issues relating to cotton import include black listing, high cost of litigation, quality problems, high arbitration fee, slow settlement process at the cost of importers, short weight or quantity problems of the first shipment lead to delay in opening LC for subsequent shipment.

 and this leads to carrying charges, absence of standard mode of testing and absence of any mutually agreed mode of quality testing specified in the contract, lack of deterrent penalty for deliberate default and deliberate failure of the seller to adhere to commitments. Speaking on the occasion, President ICA Mohit Shah said purpose of the visit of ICA delegation is to develop cooperation, initiate permanent dialogue with the textile industry in Pakistan.

 
 
on epaper page 8
 
 
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