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50,000 power-looms affected by yarn shortage

15
Dec '09
Unavailability of yarn and its growing prices in the local market has forced over 50,000 power-looms in the country to down their shutters leaving more than a million workers without jobs, while rest of the power-looms are functioning partially. Around 40,000 of these 50,000 alone are in Faisalabad, informed experts associated with various associations.

The experts urged government to restrict the exports of yarn immediately and facilitate its availability in domestic market to stop closure of power-looms and to ease the situation in value-added textile sector.

Moreover, the Chairman of All-Pakistan Cotton Power-looms Association (APCPA) said that shipment of raw materials at low prices to competitor countries such as China, Bangladesh and Sri Lanka from the country is taking its toll on Pakistan's export-oriented power-loom industry.

In addition to this, it would leave millions of workers working in the value added chain, without jobs and would also affect the economy of the country. The value added sector is in favour of carving out an agreement on mutually agreed and beneficial terms, in a bid to offer opportunities to all the sectors of textile industry to survive and progress honorably, underlined the Chairman of APCPA.

He asked for the total ban on exports of raw materials such as cotton and cotton yarn to salvage the power-looms industry.

Fibre2fashion News Desk - India


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