September 22, 2021

Pakistan textile sector let down with U-turn on Indian import of cotton

Spread the love

With Imran Khan led government’s decision of not giving allowance of import of Indian cotton, Pakistan’s textile sector has been highly disappointed and has said that procuring cotton from India has been the current need of the hour for avoiding big losses adhering to textile exports.

Pakistan Apparel Forum Chairman Jawed Bilwani said on Thursday the rejection of the country’s cabinet of the proposal by the Economic Coordination Committee (ECC) will present a negative message to foreign buyers as the cotton yarn was not accessible in the country, according to the reports of Dawn.

The textile export sector has been putting forth a consistent demand about duty -free import of cotton yarn across the world, which comprises of India also, to avoid any big losses for textile exports. Pakistan’s federal cabinet on Thursday traced the ECC’s decision to permit the import of sugar, cotton and cotton yarn via sea routes from India.

On Wednesday, Hammad Azhar, Pakistan’s newly appointed finance minister declared the government had decided to permit the import of sugar, cotton and yarn from India. On giving the permit for the import of cotton from India, Azhar revealed that there was increased demand for it due to increase in the exports of Pakistani textiles, however last year’s cotton crop was bad. Azhar said, “The price of the commodity in India is lower than what is in Pakistan. The import of cotton and yarn through the Wagah border will help meet domestic requirements at reasonable rates,” further adding that the import of cotton from India will be initiated until June.

error: Content is protected !!