APTMA castigates proposal to ban yarn exports

24/11/2009 12:00 - 509 Views

The All Pakistan Textile Mills Association (APTMA) has severely condemned the proposal to impose restrictions on exports of cotton yarn or imposing duty, by saying that this would be against the concept of free trade mechanism.

APTMA said that the country was facing a production shortfall of cotton, despite which raw cotton was being exported in huge quantities and which it has never opposed and was importing cotton from other countries to meets its requirements.

It also went on to add that the spinning sector was paying export parity price to the farmers and in the interest of the farmers would never suggest imposing ban on exports of cotton from the country at a time when a shortfall was looming.

APTMA blamed the closure of a large PSF plant for the hike in yarn prices as other PSF manufacturers had hiked prices and at the same time the government had also imposed anti-dumping duties on imports of PSF into the country.

Fibre2fashion News Desk – India

November 24, 2009 (Pakistan)

Source: www.fibre2fashion.com