Acute shortage of cotton yarn: power loom owners, workers stage demonstration

Power loom owners and workers staged protest demonstration against price hike and acute shortage of "cotton yarn" at various places of industrial city. A demonstration was held at Chowk Clock Tower, attended by workers and owners of textile associations.
Speakers said that the government had failed to resolve power loom sector's problems. Talking to newsmen, Rana Ikhlaq Ahmad, Chairman, All Pakistan Cotton Power looms Association (APCPA) expressed grave concern over the ongoing crisis of yarn shortage and excessive export of cotton and cotton yarn. He disclosed that more than 50,000 power looms have closed down so far, while more than 40,000 looms have shut down their one shift due to non-availability of yarn in domestic markets.
He pointed out that the prevailing situation of yarn export, hoarding and speculation has led to increased unemployment and pushing the power looms sector towards bankruptcy and disaster.
Rana Ikhlaq Ahmad said that the unhealthy yarn trade activities, including hoarding and speculation in domestic markets are a part of conspiracy against textile policy, that would add fuel to the fire in market prices of yarn, create law and order problems due to unemployment, lead to decline in value-added textile production and sinking investment of billions of rupees in Power looms and weaving sector.
Commenting over the ongoing "yarn crisis", Muhammad Shaheen Tabassum, former Vice Chairman, Pakistan Hosiery Manufacturers Exporters Association (PHMA) North Zone claimed that a record increase of approximately 35 to 40 percent in price of cotton yarn and polyester cotton yarn (PC) has been observed for the last five months of the current fiscal in various counts. This increasing trend is still going on, while the quality yarn is not available in the domestic market due to expanded export to China, Bangladesh and other countries and prices are on record high in the country's history.
During this short period, prices of 20/S, 24/S and 30/S yarn have increased from Rs 2000 to Rs 2500 per bag while 32/S combed yarn price has gone up by Rs 3000 per bag. Resultantly, value added textile, ie, power looms industry, hosiery knit-wear, sports wear, printing, processing and other home-textile industry is under severe crisis and at the verge of collapse while spinning sector is busy making money taking undue advantage of the situation, he added.
Shaheen Tabassum said that this sector that has been termed in the depressed situation for the last 2 or 3 years has got a unique opportunity to strengthen its financial position.
Knitwear and Bed linen is also of the same fate while manufacturers of garments, home textile and bed linen are at a loss as to how to fulfil their export orders, he said. The prices of domestic products as garments, socks, bed wear, sportswear, kitchen wear, towels and other made-ups are beyond the purchasing power of the general public.