Categories: Uncategorized

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

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.

Team Newsnap
Leave a Comment
Share
Published by
Team Newsnap

Recent Posts

Channapatna Victory: CP Yogeshwar Triumphs, Nikhil Kumaraswamy Falls Short

Ramanagara:In the Channapatna by-election, CP Yogeshwar secured a decisive victory. Despite switching from the BJP… Read More

2 hours ago

Congress Candidate Annapoorna Tukaram Secures Victory in Sandur: Official Announcement Awaited

Ballari:Congress candidate Annapoorna Tukaram has achieved a resounding victory in the Sandur Assembly by-election. Sources… Read More

2 hours ago

Congress Leads in All Three Bypoll Constituencies in Karnataka: A Setback for BJP

19 thousand lead for CP Yogeshwar. Bengaluru:The Karnataka by-poll results have taken a significant turn,… Read More

4 hours ago

Bumrah’s Five-Wicket Haul Puts Australia in Trouble in Perth Test

Perth: India’s stand-in captain Jasprit Bumrah delivered a stellar performance in the ongoing Perth Test,… Read More

4 hours ago

Copper Edge Institute Owner Sharath Commits Suicide: Mystery Surrounds the Incident

Davanagere: Sharath G.N. (34), the owner of the competitive exam training center Copper Edge Group… Read More

5 hours ago

Seasonal Health Tips to Keep You Safe and Healthy

As seasons change, so do health risks. Here are essential tips to maintain your well-being… Read More

9 hours ago