Home / Knowledge / News / Textiles / Petition filed in court to restrain cotton & yarn exports
Petition filed in court to restrain cotton & yarn exports
07
Jan '10
On a petition filed by Reliance Textile Industries and Public Issues & Economic Forum, challenging the government's decision to allow export of more cotton bales and cotton yarn, the Sindh High Court, yesterday issued notices to the Ministry of Commerce and Ministry of Textiles, Trade Development Authority and State Bank of Pakistan.

Their counsel stated that in December 2009, new export orders amounting to a very huge volume of raw cotton and cotton yarn were initiated at a time when the cotton spinning sector and the value-added sector was facing acute shortage of raw cotton and yarn, respectively.

The government's policy of allowing unprecedented exports of both the commodities brought the spinning and value-added industries to a verge of collapse. He submitted that cotton crop yield for season 2009-2010 was estimated at 12.10 million bales against the domestic projected consumption of 14.681 million bales, which meant a deficiency of 2.581 million bales.

Despite being aware of this situation, the government had allowed unprecedented exports of raw cotton. Providing statistical data, he said that, in the year 2008-09 cotton sales to exporters stood at 214,631 bales and in the period August to November in current fiscal year 2009-2010, 693,243 bales were exported.

With regards to cotton yarn exports, the counsel said that for this commodity too, the last three months had witnessed a huge volume of exports which had created shortage of cotton yarn in the country and in turn had fuelled prices of cotton yarn in the country by 15-20 percent, which had upset all the calculations of the value-added exporting sectors like ready-made garments and home-textiles.

The counsel of the petitioners contended that, export of 1 kg of raw cotton is sold at US $1 in the international market, whereas 1 kg of value-added goods brings in $8, which meant that, by exporting value-added products the country could derive 700 percent more in precious foreign exchange.

He pleaded with the court to declare the government decision's to export raw cotton and yarn as unjustifiable and adverse to the national economy and restrain the government from allowing more exports of both the commodities.

Fibre2fashion News Desk - India


Must ReadView All

UK GDP growth to stay steady but subdued: CBI

Textiles | On 8th Dec 2017

UK GDP growth to stay steady but subdued: CBI

The gross domestic product (GDP) in the United Kingdom (UK) will grow ...

Amazon launches operations in Australia

Apparel/Garments | On 8th Dec 2017

Amazon launches operations in Australia

US online retail giant Amazon recently unveiled its business in...

Courtesy: G-III Apparel

Apparel/Garments | On 8th Dec 2017

Q3 FY18 G-III Apparel sales up 16% to $1.02 billion

For the third quarter of fiscal 2018, net sales of G-III Apparel...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Urmil Arya

Sushila International, a well established textile organisation established ...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search