Move to bar the textile mill from accessing cotton stock to affect exports claims: FPCCI

ISLAMABAD: President, Federation of Pakistan Chambers of Commerce and industry (FPCCI) Mian Nasser Hyatt Magoo on Monday observed that the Gul Ahmed Textile Mill Limited had legally acquired premises where it kept all its cotton stocks in bulk and its lease documents have been vetted by the Supreme Court of Pakistan and the Sindh High Court.

In a statement issued here today ,he was of the view that move to bar the textile mill from accessing to its cotton stocks would effect the daily operations as well as exports of the country.

The FPCCI President further claimed that action taken by Pakistan Railways against textile mill would disturbed growth of exports which was showing positive trend under the prevailing difficult environment.

He urged the government and Ministry of commerce for immediately taking notice of the Pakistan Railways against Gul Ahmed Textile Mills Limited, which was a leading exporters and contributing significantly in the economic development of the country.

President FPCCI said that the Gul Ahmed Textile Mill Limited had legally acquired premises where it kept all its cotton stocks in bulk and its lease documents have been vetted by the Supreme Court of Pakistan and the Sindh High Court.

Railways authority was taking action at time when textile mills and exporters were engaged to deliver their exports orders while on the other hand presently local production of cotton does not match with the domestic demand.

The textile exporters were importing cotton and placing it in their suitable yards, he said adding that this action would not only affect local exports but also put thousands of workers’ jobs at stake.

Gul Ahmed was the biggest exporter of textile products and this move to refrain the textile mill from accessing its cotton stock would affect its production activities and their exportable consignments may also suffer delays and ultimately will cause loss of revenue reputational damage and confidence of the foreign buyers, he remarked.

Nasser Hyatt Magoo urged the Ministry of Commerce for making prompt intervention to allow access to the raw material by Gul Ahmed Textile Mill Limited so that its workers remain at work, export operations continue without any disruption.