ANL 34.10 Decreased By ▼ -0.15 (-0.44%)
ASC 13.65 Increased By ▲ 0.30 (2.25%)
ASL 23.40 Increased By ▲ 0.80 (3.54%)
AVN 85.60 Increased By ▲ 1.90 (2.27%)
BOP 7.70 No Change ▼ 0.00 (0%)
BYCO 9.44 Increased By ▲ 0.07 (0.75%)
DGKC 111.51 Increased By ▲ 1.31 (1.19%)
EPCL 48.99 Decreased By ▼ -1.90 (-3.73%)
FCCL 22.85 Increased By ▲ 0.09 (0.4%)
FFBL 25.47 Decreased By ▼ -0.23 (-0.89%)
FFL 15.33 Increased By ▲ 0.03 (0.2%)
HASCOL 8.94 Decreased By ▼ -0.06 (-0.67%)
HUBC 78.43 Decreased By ▼ -0.57 (-0.72%)
HUMNL 6.13 Increased By ▲ 0.29 (4.97%)
JSCL 19.14 Increased By ▲ 0.44 (2.35%)
KAPCO 40.50 Increased By ▲ 1.11 (2.82%)
KEL 3.72 Increased By ▲ 0.04 (1.09%)
LOTCHEM 14.20 Decreased By ▼ -0.15 (-1.05%)
MLCF 42.75 Increased By ▲ 0.45 (1.06%)
PAEL 30.90 Decreased By ▼ -0.17 (-0.55%)
PIBTL 9.52 Increased By ▲ 0.07 (0.74%)
POWER 8.61 Increased By ▲ 0.17 (2.01%)
PPL 82.50 Decreased By ▼ -0.80 (-0.96%)
PRL 23.09 Increased By ▲ 0.32 (1.41%)
PTC 9.00 Decreased By ▼ -0.20 (-2.17%)
SILK 1.38 Decreased By ▼ -0.02 (-1.43%)
SNGP 38.90 Increased By ▲ 0.31 (0.8%)
TRG 165.00 Increased By ▲ 1.78 (1.09%)
UNITY 35.80 Increased By ▲ 0.87 (2.49%)
WTL 1.53 Increased By ▲ 0.08 (5.52%)
BR100 4,846 Increased By ▲ 46.43 (0.97%)
BR30 24,817 Increased By ▲ 123.55 (0.5%)
KSE100 45,175 Increased By ▲ 231.06 (0.51%)
KSE30 18,470 Increased By ▲ 86.89 (0.47%)

Coronavirus
VERY HIGH
Pakistan Deaths
18,797
12024hr
Pakistan Cases
854,240
410924hr
Sindh
290,756
Punjab
316,334
Balochistan
23,186
Islamabad
77,684
KPK
123,150

FAISALABAD: The PHMA is expected to call a protest in the near future in view of the growing cotton yarn crisis. Group Leader Chaudhry Salamat Ali and Senior Vice Chairman of PHMA Mian Farrukh Iqbal said this while addressing a press conference at the office of Pakistan Hosiery Manufacturers and Exporters Association (PHMA).

The dream of the Prime Minister of Pakistan Imran Khan to promote the industry and rehabilitate the workers in Faisalabad had not even come true yet the yarn mafia started hoarding which would create a shortage of cotton yarn and the prices have skyrocketed and due to the shortage of yarn our valued textile sector has been facing severe difficulties. If the cotton yarn crisis continues like this and cotton yarn is not allowed from the Wagah border immediately, Pakistan’s growing economy will once again reach the brink of collapse.

The Prime Minister of Pakistan Imran Khan and his team should immediately formulate a strategy to overcome this cotton yarn crisis so that thousands of workers can avoid becoming unemployed. If the government does not address the artificial cotton yarn crisis on an emergency basis and take no action against this mafia, not only will thousands of workers lose their jobs in the next few weeks, and we will have no choice but to take to the streets for the labours and my rights.

Muhammad Ahmed Chairman (PTEA), Chaudhry Muhammad Nawaz Chairman Cotton Power Loom Association, Waheed Khaliq Rame Chairman Loom Owners Association, Arif Ehsan Malik Former Chairman (APBUMA), Chaudhry Talat Mahmood Senior Vice President (FCCI), Rana Talib Hussain Former Chairman Sizing Association, Mian Naeem Ahmed Former Chairman (PHMA), Muhammad Amjad Khawaja Former Chairman (PHMA), Mian Kashif Zia Former Senior Vice Chairman (PHMA), Hafiz Rashid Mahmood Executive Member (PHMA), Mian Asif Iqbal Director Kozi International and other industrialists said that to prevent this artificial shortage of cotton yarn, import of cotton yarn from Wagah border should be allowed and immediate action should be taken to increase cotton production to save thousands of workers from becoming unemployed.

If this does not happen, we will soon call for a protest after consulting with the chairmen of all the associations so that our voice can reach the ears of the Prime Minister of Pakistan Imran Khan and his team.—PR

Copyright Business Recorder, 2021