The Chairman of Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA), Ijaz A Khokhar, has urged the Ministry of Textile Industry and Ministry of Commerce to protect the textile industry stakeholders from the negative impact of prevailing cotton crisis.
He said that the downward trend in cotton prices internationally has put the cotton farmers into a troublesome situation, leading to a crisis-like situation for textile industry right from ginning, spinning, weaving, processing to value-addition.
Especially, he stressed, the value-added textile industry is losing Christmas orders fast due to reluctance on the part of international buyers. He said the value-added textile industry is likely to lose a major chunk of its annual business due to undue delay in placing of Christmas orders by the international buyers. The Christmas orders are considered to be 60 percent of total annual business in value-added industry, he added.
According to him, the PRGMEA has set the ball rolling by inviting all stakeholders on a single platform for brainstorming as how a crisis like situation could be averted. But it is actually the job of Ministry of Textile Industry and the Ministry of Commerce to come forward and engage the stakeholders on possible solution to the problem.
It may be noted that the PRGMEA has written all the stakeholders for a roundtable. Chairman PRGMEA said the Minister for Textile Industry Shahab-ud-Din should chair the roundtable and interact with the stakeholders on possible solutions to the problem.
Comments
Comments are closed for this article.