KARACHI: Hanif Lakhany, senior vice chairman of the Pakistan Yarn Merchants Association (PYMA), and Farhan Ashrafi, vice chairman, have expressed their concern over the unavailability of cotton yarn and the price reaching an all-time high.
They asked the government to immediately allow duty-free import of yarn and cotton from other countries, including India, to save the textile industry from collapse.
They said that due to the effects of the COVID-19 pandemic, a large number of export orders from China, Bangladesh and India had been transferred to Pakistani exporters, which led to an increase in production activities.
However, these days the cost had risen sharply due to non-availability of raw materials as per the demand of the textile industry and the high price of yarn in the local market.
“If we do not manage to import raw materials from other countries, including India, while looking for alternatives, then the export orders that have been transferred to Pakistan will not be fulfilled,” they said.
Hanif Lakhany and Farhan Ashrafi demanded of the government to immediately waive duties on yarns and cotton and allow duty-free import from other countries, including India.
As in the case of import from India, freight charges would come down, and it would take less time, they said.
Copyright Business Recorder, 2021
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