The Trade Development Authority of Pakistan (TDAP) has constituted a committee to monitor and register yarn export contracts. Briefing the reporters about the decisions taken at a meeting between different textile associations and TDAP on Friday, the chief executive of TDAP, Mohibullah Shah, announced start of registration process of yarn export.
The Authority will notify the exporters to register yarn export contracts with it, and DGs, Textile TDAP, will supervise the whole process in different cities, he said. The committee has been assigned to monitor exports of yarn [from 0 to 33 counts], to regulate and ensure domestic supply of the item, he said.
The committee will be have representatives of All Pakistan Textile Mills Association (Aptma), Karachi Cotton Association (KCA), State Bank of Pakistan, and Customs. In pursuance of the directives of Cabinet Committee on Textile, he said, the Authority had held a series of meetings with various stakeholders, including representatives of downstream industries as well as Aptma and others, in order to evolve a mutually acceptable system of registration which keeps in view the principles enshrined in the decision of the committee.
The committee was constituted after a final and joint meeting of all stakeholders held at TDAP head office on Friday, where details of the notification were agreed by all stakeholders. Accordingly, in the light of the consensus reached in the meeting, TDAP has issued the notification for registration of yarn export. The exporters of yarn would file with TDAP the Registration Certificate. This is meant to collect information for fair and transparent monitoring of the export trade in yarn.
The relevant data and particulars are incorporated in the Registration Certificate, he added. He said that the Authority had searched soft solution for getting extreme measures. Shah said that the domestic price control mechanism is impractical and against the free market system.
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