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Pak value-added textile sector forewarns of cotton crisis
07
Jun '12
Apprehending a yarn crisis in the country, the value-added textile sector of Pakistan has called on the government to build a buffer stock of over four million bales of cotton.

Exporters, producers and exporters of value-added textiles were quite disappointed with Budget 2012-13, as the government fell short of allocating adequate funds for the textile industry.

Pakistan Readymade Garments Manufacturers and Exporters Association, (PRGMEA), Chief Co-ordinator, Ijaz Khokhar said apparel exports from the country have been badly hit by gas and power crisis.

He noted that while cotton is being sold at 68 cents per pound in international market, in Pakistan it is priced at about US$ 1 per pound, which is quite higher and rather unviable price for producers of value-added textile producers.

He said that while fresh cotton stocks are expected to arrive in market this month, it is also necessary that the million of bales that have been squirreled away by the hoarders are released urgently, to fully meet the demand of the local apparel sector.

Under its budgetary proposals, the sector had urged the government to build buffer stocks of over four million bales of cotton, to ensure adequate availability of cotton in domestic market at reasonable prices. However, disappointingly the government did not incorporate any of the proposals in the budget, he added.

Mr. Khokhar said that the country is grappling against difficulties like severe power and gas crisis and pricey inputs including cotton and yarn, which is negatively impacting the textile manufacturing industry.

Meanwhile, several producers have stopped accepting new orders, mainly for the Christmas and New Year seasons, as they are still struggling to execute their overseas consignments that are overdue, he added.

Fibre2fashion News Desk - India

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