Shortage of cotton, yarn: PYMA seeks duty-free import from Turkey, India, Uzbekistan

KARACHI: Pakistan Yarn Merchants Association (PYMA), has appealed Prime Minister Imran Khan to take steps to reduce the cost of production of value-added textile industry, in view of the shortage of cotton, its yarn and the skyrocketing prices and allow duty-free import of cotton and yarn from Turkey, India and Uzbekistan through land routes so that exporters can compete in the ongoing price race in international markets.

Hanif Lakhany, Vice President, Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and Senior Vice Chairman PYMA, Farhan Ashrafi, Vice Chairman PYMA and convener FPCCI’s central standing committee on yarn trading said that the value-added sector in the country is facing immense difficulties due to shortage and prices of cotton and cotton yarn reaching record levels as cotton yarn is not available to these export industries even at high prices as per the production demand.

PYMA office-bearers said the exporters in the value-added sector are reluctant to accept new orders due to difficulties in procuring basic raw materials. Due to which these orders can be transferred to other countries.

Copyright Business Recorder, 2021