Shortage and high yarn prices: Aptma concerned over statements

All Pakistan Textile Mills Association, Sindh-Balochistan Region expressed serious concern over the statements appearing in the press media regarding the shortage and high prices of yarn. Aptma offered yarn but at the prices prevailing in the market, whereas value added sector is demanding yarn at lower prices.
To bring down the prices of yarn various suggestions are being given by the value added sector and the power loom sector. Aptma is of the view that if the concerned Ministry restricts the exports of yarns it will affect Spinning Mills, incurring heavy loss for the last two years, will be in bank default for which such action will be responsible.
Furthermore, any new investment in shape of new capacity or modernisation, which is likely to take place in the current scenario will be stopped and in future any spinner will hesitate to put any money into the industry. It is hoped that next year with better seeds, the cotton production will increase drastically and if spinning industry is restricted at this moment there will be no spinning capacity to convert cotton into yarn.-PR