Federal government has invited the Faisalabad Industrialists for negotiation, who are protesting against gas loadshedding schedule, price hike and shortage of Cotton and Polyester Yarn and unfair doing business. Talking to newsmen, Sheikh Abdul Qayyum, President Faisalabad Chamber of Commerce and Industry disclosed that 18 members of delegation would participate in negotiation at Islamabad on November 08 on Monday with the Ministries of Petroleum and Textile over concerned issues.
Meanwhile, the protests of powerlooms owners have been entered into the second week. They observed black day and staged protest carrying black flags and banners at front of their factories. Briefing to media, Chaudhry Salamat Ali, Chairman, Pakistan Hosiery Manufacturers and Exporters Association (PHMA) North Zone demanded that the export of cotton and yarn should be banned to control the growing day-by-day rates of raw material, which hampering the textile industry and three million labourers livelihood.
He said that the recent 60 percent increase in yarn within a month would also further aggravate the economic situation, while speculation and hoarding adding fuel to the fire. He urged the government to ensure equitable rationing of gas across the board otherwise the industry would collapse within no time. The industries in Punjab were facing scheduled gas supply cuts to feed other consumers including, households that start using more gas in winter for heating purposes, he added.
Chairman, PHMA, North Zone demanded to the government that the export of cotton and yarn should be totally banned till meeting the demands of the domestic sector and should be eliminated the monopolists and capital mafia, who are adding fuel to the fire by their speculative activities ignoring the national interests.
Wasim Latif Chairman, and Adil Manzoor Ellahi Vice Chairman Pakistan Textile Exporters Association in a press statement demanded duty free import of polyester fibre to cover the shortage of 20 percent of cotton crop washed away by floods and 30 percent demand supply gap of polyester fibre in the country.
They said, Pakistani businessmen had tried to cover the cotton crop shortage by importing five lac bales of cotton from India and the transaction with Indian exporters had been almost finished, but Indians backed out of commitments and have unashamedly refused to ship the goods. Pakistani buyers thus left in the lurch, they said.
Elaborating they said that local poly fibre manufacturing units even working at 100% full capacity were still short by 30% to fulfil the demand of exporters. The raw material shortage was thus on two sides, on one hand 20 percent of cotton crop had been washed away in the recent floods and on the other hand demand of polyester fibre was in excess of total manufacturing capacity of the fibre mills, they said.