FAISALABAD: Pakistan Textile Exporters Association (PTEA) has stressed for immediate lifting of ban on import of Indian cotton as 2.5 million bales of cotton are urgently required for the textile export industry. Delay in cotton import can pose risk to timely deliver the export orders.
In a statement here on Friday, PTEA chairman Sohail Pasha said torrential rains and floods have engulfed Pakistan’s cotton fields resulting in irreparable loss to the sector. In the province of Punjab, many cotton producing areas have suffered heavy damages due to stormy rains. The cotton crop over 210,000 acres of land has been affected due to the floods. He pointed out that a huge shortfall in cotton production is expected this year as calamitous floods have washed away about half the country’s total crop. Against the annual estimated consumption of minimum 12 million bales; cotton production is expected around 5.5 million bales this year. There is at minimum shortfall of six million bales and this has left with no option but to import raw cotton from other countries. Considering India as the best option for cotton import, he said India is the second largest cotton producer after the US and importing cotton from India would be far cheaper and would reach Pakistan within three to four days.
Copyright Business Recorder, 2022
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