KARACHI: The Pakistan Yarn Merchants Association (PYMA) has appealed
Prime Minister Imran Khan to take measures for reducing the cost of
production of value-added textile industry, in view of the shortage of
cotton, cotton yarn and the skyrocketing prices and allow duty-free
import of cotton and cotton yarn from Turkey, India and Uzbekistan by
land to help exporters compete in the ongoing price race in
international markets.
In an appeal to the prime minister, Hanif Lakhany, vice president of
the Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
and senior vice chairman of Pakistan Yarn Merchants Association
(PYMA), Farhan Ashrafi, vice chairman of 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 the
shortage and price of cotton and cotton yarn, which are at record
levels, as cotton yarn is not available to these export industries
even at high prices as per the production demand.
“If this situation continues, not only will it be difficult to fulfil
export orders, but Pakistani exporters will also lose the ability to
compete in [the] global markets, which could have a negative impact on
the country’s exports, so the government should seriously consider
PYMAs proposal in the best interest of the country’s economy,” they
feared.
The 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.
Lakhany and Ashrafi appealed to Prime Minister Imran Khan to assist
exporters in fulfilling old export orders on time, and taking new
orders, while also issuing directives to allow duty-free import of
cotton, cotton yarn from Turkey, India and Uzbekistan by land.
This will not only reduce the import period of raw materials but will
also help reduce the cost of freight charges.
