Over 500 protest banners put up all over Faisalabad: 'save value-added industry drive' launched

More than 500 protest banners have been put up all over Faisalabad in first phase to mark launching of "save value added industry - save the country" campaign here on Monday. The campaign is being organised by textile trade bodies on country wide level and similar protest banners against Yarn price hike and unrestrained export of Cotton and Cotton Yarn would also be put up in Karachi, Lahore, Multan, Sialkot and other major centres of Value-Added industry.
A convention of representatives of various textile Associations is being held here on Tuesday to chalk out a comprehensive plan to save the industry and exports from total collapse. The convention is being participated by leaders of textile industry from Karachi, Lahore, Multan and Sialkot.
Meanwhile, Power loom workers have already set a protest camp at Chowk Clock Tower against unusual increase in prices of cotton and cotton yarn which have gone out of reach of power loom owners and they are constrained to close down their factories. The price of Cotton has gone as high as Rs 4, 400 per maund and price of Cotton Yarn have escalated by 30 percent in the local market.
Further the supply of Cotton Yarn is short due to unrestricted export of yarn and small power loom owners are unable to procure the basic raw material for their small factories and are resultantly facing great hardship in earning their living. The alternative raw material of cotton yarn is polyester fibre, prices of which have also increased due to monopoly of few houses on manufacturing of polyester fibre and also due to prohibitive duty on import of polyester.