Spokesman of All Pakistan Textile Mills Association (APTMA) has said that abundant yarn is available for domestic ancillary industry at comparatively low prices as against yarn available to regional competitors to produce textile products. He said the yarn is available in Pakistan at $1.6-1.7/lb cotton parity price, as against current international cotton @ $2.28/lb (A Index).
According to him, it is golden opportunity for the ancillary industry at prevailing yarn prices to perform and achieve 14 billion dollars textile exports target this year. In spite of all odds the spinning industry is supplying sufficient yarn to the textile ancillary industry at lowest prices prevailing in the region, he added.
He said the cotton production stood at 11.6 million bales in Pakistan until March 2011. Industry imported 1.4 million bales until February 2011, leaving the industry short by 1.4 million bales for the remaining period till July 2011. Only an immediate import of one million bales can ensure continuing textile operations.