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Textile industry endeavors to escape cotton deficit
01
Feb '08
By now it has become a blatant fact that Pakistan is struggling hard to overcome the deficiency of cotton bales. Statistics show that the country produces an approximate of 13 million bales of cotton every year, while is annual consumption stands at 16 million.

Quite obviously there is a shortfall of 3 million bales and over, and the figure fluctuates depending on the yearly produce.

Pakistan textile industry has finally come to decide on importing five hundred thousand bales of short-staple cotton, of which around one million bales is expected to be imported from India by March this year.

Cotton import from neighboring countries is likely to reduce the burgeoning pressure in the domestic textile industry. According to the contract made between local millers and Indian cotton producers, the goods will be transacted through the Wagah border, provided the land route is kept open for longer hours to facilitate more influx of cotton.

Apart from the deal on raw cotton import, Pakistan has also inked agreement on importing five hundred thousand bales of short staple from India. Experts from the industry firmly believe that this move will ensure stability and smooth operation of the Pakistan textile industry at least for the current fiscal year.

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Courtesy: India ITME

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