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Textile value added sector on indefinite strike
13
May '10
Manufacturers-cum-exporters of value-added textile sector, protesting against the ban on exports of cotton and yarn, have declared a shutter-down strike for an indefinite time period, while, earlier, thousands of production units had already pulled down their shutters in protest.

Spokespersons from various value-added textile associations, while addressing a press conference held at the Karachi Press Club threatened the government that, if their operating units, succumb to the cotton and yarn shortage, then it may hit the nation's weak financial system.

They revealed that, while over 200 value-added textile-production units, on account of various reasons including scarcity of yarn, were torn apart forever, around 300-400 mills had relocated themselves outside Pakistan to other countries.

Around 250 units have been relocated to countries like Bangladesh, Sri Lanka, Jordan and Egypt, wherein the investor is provided with all sorts of facilities, including relief on taxes. They cautioned the government that, if the yarn crisis persists, then rest of the value-added textile sector might also tread on the same path.

The value-added textile sector in Bangladesh was functioning effectively and drew around $14 billion per year from exports, they stated. Also that, though Bangladesh is not a cotton producing nation, but it is a proficient country producing value-added textiles, thanks to Pakistan which is feeding the Bangladesh industries at the cost of its domestic industries.

Fibre2Fashion News Desk - India


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