AVN 65.20 Increased By ▲ 0.25 (0.38%)
BAFL 30.74 Decreased By ▼ -0.77 (-2.44%)
BOP 4.80 Increased By ▲ 0.01 (0.21%)
CNERGY 3.71 Decreased By ▼ -0.13 (-3.39%)
DFML 14.21 Decreased By ▼ -0.20 (-1.39%)
DGKC 41.05 Decreased By ▼ -0.55 (-1.32%)
EPCL 46.45 Decreased By ▼ -0.25 (-0.54%)
FCCL 11.40 Increased By ▲ 0.11 (0.97%)
FFL 5.05 No Change ▼ 0.00 (0%)
FLYNG 5.80 Decreased By ▼ -0.02 (-0.34%)
GGL 10.33 Decreased By ▼ -0.12 (-1.15%)
HUBC 66.87 Increased By ▲ 1.23 (1.87%)
HUMNL 5.71 Increased By ▲ 0.05 (0.88%)
KAPCO 27.76 Increased By ▲ 0.01 (0.04%)
KEL 2.20 Increased By ▲ 0.05 (2.33%)
LOTCHEM 24.90 Increased By ▲ 0.55 (2.26%)
MLCF 21.44 Decreased By ▼ -0.04 (-0.19%)
NETSOL 83.60 Decreased By ▼ -1.19 (-1.4%)
OGDC 85.90 Decreased By ▼ -1.35 (-1.55%)
PAEL 11.01 Increased By ▲ 0.03 (0.27%)
PIBTL 4.22 No Change ▼ 0.00 (0%)
PPL 74.48 Decreased By ▼ -1.22 (-1.61%)
PRL 13.43 Decreased By ▼ -0.22 (-1.61%)
SILK 0.92 Increased By ▲ 0.03 (3.37%)
SNGP 40.40 Decreased By ▼ -0.93 (-2.25%)
TELE 5.86 Increased By ▲ 0.01 (0.17%)
TPLP 15.40 Decreased By ▼ -0.24 (-1.53%)
TRG 111.41 Decreased By ▼ -0.29 (-0.26%)
UNITY 13.75 Decreased By ▼ -0.23 (-1.65%)
WTL 1.14 Decreased By ▼ -0.02 (-1.72%)
BR100 4,037 Decreased By -26.9 (-0.66%)
BR30 14,412 Decreased By -56.6 (-0.39%)
KSE100 40,471 Decreased By -262.4 (-0.64%)
KSE30 15,163 Decreased By -67.2 (-0.44%)
Follow us

FAISALABAD: All Pakistan Value-added Textile Association (APVTA) has demanded complete ban on the export of cotton and cotton yarn and warned that they would be forced to set up a protest camp at Clock Tower on Thursday if positive decision was not made by the Federal Cabinet.

Addressing a joint press conference in Pakistan Hosiery Manufactures and Exporters Association (PHMA) today, Mian Farrukh Iqbal Senior Vice Chairman (North Zone) PHMA said that some circles were maligning value added sector that they have pushed Kashmir cause under the carpet which is not true.

He said that exporters and industrialists are patriotic Pakistanis and they could not even think of violating national security issues at the cost of their businesses. He said that they fully endorse the Kashmir policy of present government but they have to take care of millions of workers who are the backbone of national economy. He said that it was government duty to fully analyze all aspects of trade with India in Economic Coordination Committee before making its decision public.

He said that it is hard fact that cotton production has declined from 14 million bales to 5.64 million bales. It has created shortage of yarn and the exploiters are further aggravating this situation by creating price hike to mint money.

He said that value added sector is the only hope for the country; which could earn much needed foreign exchange in addition to create 10 million jobs for the unemployed youth.

He told that some sectors are exploiting the situation and exporting yarn despite of acute shortage of this raw material in the country. He told that during the month of February, yarn of 132 million dollar was exported which was 23 percent in excess to the yarn exported during the same period of the last year. He said that if export of cotton yarn was not stopped, the export of value added sector will dip down to the minimum. It will also have a fallout impact on factories which have already started closing down.

He said that the government should make final decision till Tuesday or Wednesday to prohibit export of cotton yarn as further delay will be disastrous for the country.

Chaudhry Salamat Ali of PHMA also demanded to clamp ban on export of yarn and said that indecisiveness of the government has provided an opportunity to the exploiters to enhance the rate of cotton yarn according to their own wishes. He said that government must allow duty free import of yarn to the exporters of value added sector. “This facility should also be extended to the commercial importers to ensure availability of yarn within the country”, he added.

Ejaz A. Khokhar of Pakistan Readymade Garments Manufacturers Exporters Association (PRGMEA) said that value added sector has potential to earn 10 dollars from one dollar yarn through its value addition. He said that the government should clamp complete ban on cotton and cotton yarn till the arrival of next cotton crop.

Muhammad Ahmad Chairman Pakistan Textile Exporters Association (PTEA) and Waheed Khaliq Ramay of Power Looms Owners Association said that yarn export of 120 to 150 dollars is continuing for the last four months which has further enhanced the shortage of cotton yarn in the country.

The shortage of raw material has forced industrialists to close their units as its operation has become unfeasible due to the shortage and high cost of raw material, they added.

They said that the government and Federal Board of Revenue (FBR) have failed to nail down the exploiters who are sucking blood of the industrial sector.

Other speakers also endorsed the demand to clamp ban on yarn export and said that they stand united to offer any sacrifice for the safety of this important segment of the national economy.

Later, a joint communiqué was approved while Mian Farrukh Iqbal announced that a protest camp will be established in Clock Tower on Thursday.

Further line of action will also be announced in the protest camp including launch of a full-fledged protest and March towards Islamabad, he added.

The press Conference was also attended by Arif Ehsan Malik (APBUMA), Haji Shakeel Ansari, Ch. Muhammad Nawaz, Rana Abdul Ghafoor, Rana Altaf Ahmed, Syed Nahid Abbas, Mian Kashif Zia, Mian Khalid Pervaiz, Hafiz Rashid Mehmood, Muhammad Zubair, Shahid Ahmed Sheikh, Haji Muhammad Saleem, Qamar Aftab, Shaheen Tabassum & Mian Asif Iqbal.—PR

Copyright Business Recorder, 2021


Comments are closed.

APVTA demands ban on export of cotton, yarn

PM Shehbaz says IMF giving Pakistan tough time over unlocking loan

Roshan Digital Accounts: inflow clocks in at meagre $110mn in January

Apex committee decides to engage Afghan govt for final action against TTP

Pakistan’s oil industry on brink of collapse, says OCAC

China says it ‘regrets’ unmanned airship’s entry into US airspace

Fed seen hiking policy rate above 5% as hiring surges

Cotton arrival plunges 36% year-on-year

KSE-100 retreats 0.64% as rupee falls further

Imran Khan decides against contesting by-elections on 33 NA seats

2 terrorists killed in North Waziristan: ISPR