The protest lodged by the All Pakistan Textile Mills Association (Aptma) over the holding of meeting on Saturday (February 28) by the Export Promotion Bureau (EPB) to discuss the all important question of exports of cotton yarn, bypassing the powerful body, representing textile interests in the country, ie Aptma, has finally worked.
Acknowledging the protest, the EPB has cancelled the meeting to accommodate the Aptma's concern. It will now be held on March 9, to be chaired by EPB Chairman Tariq Ikram.
Further, the number of participants has also been increased from the original 19 to 26 on the recommendation of Aptma Chairman Waqar Monnoo.
The EPB is examining a proposal, received from the Pakistan Hosiery Manufacturers Association (PHMA) for restricting the exports of cotton yarn, especially through the imposition of export duty.
The objective is to improve the domestic supply of cotton yarn for the value-added sectors of knitwear, hosiery, towels and apparels.
It has been argued that free and trammelled export of cotton yarn continues to affect the domestic supplies of cotton yarn for the made-up sectors.
The low supply position has also caused unprecedented rise in prices, affecting the export competitiveness of value-added sectors, at the same time helping our competitors in the world market.
It is also claimed that a check on yarn exports will catalyse foreign investment in our textile sector and thereby increase the employment opportunities in Pakistan.
According to the EPB, there will surely be a number of considerations against the advisability of the government intervention in the export of cotton yarn.
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