After the Governor of Punjab province held a series of meetings with various sectors across the textile value-chain, on the intervention of the President, Mr Zardari, the government has assured the spinners of finding a solution to their grievances within the next fifteen days.
The Governor held the first of the meetings with the value-added sector and then with the spinners. At both the meetings, were present the Federal Textile Minister and the Textile Secretary.
Meanwhile the spinner's body has appealed to the government to let the textile industry flourish under a free trade mechanism rather than capping exports of yarn, which in the long term could act against the interests of a sector which is the highest export revenue generator.
On concerns raised by the value-added sector on proper availability of yarn and rising prices of the same, the government had first capped yarn exports at 50 million kgs in January and then when the situation did not show signs of improvement; it further capped yarn exports at 35 million kgs in March.
Fibre2fashion News Desk - India
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