Bilal Mulla, Acting Chairman Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has demanded immediately ban on export of cotton yarn for at least six months. Pakistan shares is only 1 percent on global garments business but yarn exports share is 30 percent which clearly indicates that Pakistan is exporting raw material in high volume whereas other countries are not exporting their raw material.
Despite dearth of foreign exchange in the country, Pakistan prefers to export raw cotton and raw cotton yarn, instead of value added finished products like apparel and home textile, which converts raw cotton of 68 cents a pound into value added finish goods worth 6-7 dollars a piece, he added.
He expressed apprehension that the non availability of cotton yarn would have a serious impact on the textile sector besides decline in exports of the value added textile. This would also make it difficult to achieve ambitious textile export target of $25 billion for 2014.
"It is a great irony that yarn is not available in market and price for local supplies is increasing by every passing day," he continued. All Pakistan Textile Manufacturers Association (Aptma) is opposing any curb on export of raw cotton but Bilal Mulla said, it was blunder on part of Aptma, value added sector could not made same mistakes. "If the government cannot take immediate steps, millions of workforce of value added textile will come on street because we do not have any other option except to shut down their factories," he maintained.-PR
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