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APTMA says 'NO' to reduce yarn export ceiling

08
Feb '10
Demand made by the value-added textile sector, to reduce the figure of cap on exports of yarn by making amendments in the SRO of Jan 14, 2010 issued by the Ministry of Commerce, has been rejected by the All Pakistan Textile Mills Association (APTMA).

Mr. Yasin Siddik, Vice-Chairman APTMA stated that prices of made-ups in global market witnessed 15 percent price hike, since the time the value-added textile sector raised this demand, also the dollar-rupee parity has changed from Rs. 82 in the month of October to around Rs. 85, at present.

The made-ups sector witnessed a good number of orders at better prices in 'Heimtex fair,' recently conducted at Frankfurt, and during past three months the industry has not experienced any closure, he added.

The ceiling on yarn exports had been set, following the discussions held with the relevant Ministries, including the Senate standing committee on Textiles, informed the Vice-Chairman.

He further said that value-added sector made this demand to put pressure on the spinners for gaining yarn at low prices and on easy payment terms. Banks should be notified to offer export-refinance against finished goods and raw materials, to ensure that textile sector can access cheaper funds, demanded Mr. Siddik.

Fibre2fashion News Desk - India


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