Committee proposed to draft export policy

Value-added textile sector demands formation of committee to discuss economic situation and curb hoarding of yarn.

KARACHI: The value-added textile sector has demanded the formation of a committee with representation from farmers, ginners, spinners and value-added textile manufacturers to discuss the deteriorating economic situation and to curb the hoarding of yarn. The proposed committee will develop a mechanism to regulate the export of cotton and yarn.

This was suggested during a press conference by the representatives of value-added textile associations at the Pakistan Hosiery Manufacturers Association House.

They said that if the government does not form the committee, then all stakeholders, including the value-added textile sector, will be adversely affected and the growth of the textile industry will also be severely hampered.

They said that hoarders have benefitted from discontinued supplies of yarn in the local market and rising cotton prices in the international market. Furthermore, they said that the tussle between spinners and the value-added sector last year resulted in losses to both sides. Giving the example of India, they said that the South Asian country has restricted the export of cotton yarn to boost its local textile value-added industry.

Published in The Express Tribune, October 20^th, 2010.