Post-WTO scenario discussed

On the eve of quota-free regime, the government has assured the textile manufacturers and exporters that there would be no restrictions on the export of bed-linen and other textile products to the 25 EU member states, Canada and the United States from January 1, 2005, official sources told Business Recorder here on Friday.
The sources said that Commerce Minister Humayun Akhtar, Textile Minister Mushtaq Cheema, Export Promotion Bureau Vice Chairman Abid and other senior officials held a meeting with the representatives of All Pakistan Textile Mills Association (Aptma) and the concerned associations in Karachi on Thursday night to discuss the post-WTO scenario and export prospects of Pakistani textile products.
The ministers removed apprehensions of the manufacturers and exporters and said that no signatory to the WTO could impose any restrictions on the export of Pakistani products and fix quota under any pretext except anti-dumping duty on low-priced goods.
Meanwhile, Commerce Minister Humayun has called an inter-ministerial meeting to be attended by the textiles, industries and production, food, agriculture and livestock ministers in Islamabad on Tuesday to take a final decision about the disposal of two million bales of cotton purchased by the Trading Corporation of Pakistan (TCP).
The sources said some circles wanted that the TCP, which had never purchased more than 0.4 million bales in the past, should export at least one million bales, while the textile industry leaders suggested that the TCP should retain this God gifted raw material as a buffer stock for future needs of the domestic industry.
The sources said since the TCP purchased cotton at Rs 2,314 per bale to ensure reasonable price to the growers when cotton prices in the international market are around Rs 1,800 per bale, the TCP will suffer a loss of Rs 2 billion if the cotton was exported at this stage.
However, a final decision in this regard will be taken on Tuesday in consultation with all the stakeholders.