FAISALABAD: Export industry is facing huge difficulty due to non availability of yarn, Millat Industrial Estate Association chairman and director Klash Group Muhammad Usman Hadi said.

He stressed that govt should take measures to make the availability of yarn to the export industry otherwise production will decrease and export graph will be down which may create an adverse impact over the country’s economy.

Shortage of cotton yarn will reverse the wheel of industrial growth which will also open flood gates of unemployment in the country, said Muhammad Usman Hadi. He said the cotton crisis is a bigger threat than Covid-19 and if immediate remedial measures were not taken, the export of value-added sector will record at least 50 percent down just within weeks.

Hadi said the dream of Prime Minister Imran Khan to promote the industry and rehabilitate the workers in Faisalabad had not even come true. He said the yarn mafia has started hoarding which will create a shortage of cotton yarn and the prices have skyrocketed and due to the shortage of yarn our valued textile sector has been facing severe difficulties. If the cotton yarn crisis continues like this, Pakistan’s growing economy will once again reach the brink of collapse.—PR

Copyright Business Recorder, 2021