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Arrest explosive rise in yarn prices – PRGMEA tells Govt
11
Nov '09
The apparel manufacturing sector of the country has demanded an immediate intervention from the textile ministry to control the explosive rise in cotton yarn prices, lest which they fear that the impact of the recently declared textile policy would be nullified.

The Chairman of Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA), Mr Mirza said that yarn prices have increased by nearly 30-40 percent along with which there is a shortage of cotton yarn, due to unrestricted exports.

This in effect was creating a question mark in the minds of the foreign buyers on the ability of apparel exporters to supply goods at these high prices, which could have a effect on the exports of garments in the coming months, he warned.

He made it clear that the PRGMEA is not against the export of yarn but as part of this country and its economy, all the stakeholders should sit together and develop a theory, so that neither the industry faces losses nor should the country suffer.

Fibre2fashion News Desk - India

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