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Meeting to resolve vexed yarn issue inconclusive
05 May '10
1 min read
A meeting between senior members of the textile as well as value-added sectors held recently had raised hopes of reaching a consensus on the vexed issue of rising prices of cotton yarn. But according to a senior member of APTMA, they could not reach any conclusion.
Speaking to Fibre2fashion, Mr Anwar Tata, member of APTMA said, “Now, it is the onus of the Federal Textile Ministry to come out with a solution from the proposals put forth by both the parties at the meeting, since both the sectors could not reach a consensus on the issue”.
He added by saying that, “The body language of the textile ministry suggests that the government will take concrete action, since the next three months are more critical, as 30 to 40 percent of mills will have no cotton and it will be more difficult to import cotton, even at high prices”.
At the meeting the spinners insisted on a free-trade mechanism, while the value-added sector proposed a ban on yarn exports for two months, along with imposing a 25 punitive duty on exports of the same. However, towards the end of the meeting, they did not press for a complete ban.
Speaking to Fibre2fashion, Mr Anwar Tata, member of APTMA said, “Now, it is the onus of the Federal Textile Ministry to come out with a solution from the proposals put forth by both the parties at the meeting, since both the sectors could not reach a consensus on the issue”.
He added by saying that, “The body language of the textile ministry suggests that the government will take concrete action, since the next three months are more critical, as 30 to 40 percent of mills will have no cotton and it will be more difficult to import cotton, even at high prices”.
At the meeting the spinners insisted on a free-trade mechanism, while the value-added sector proposed a ban on yarn exports for two months, along with imposing a 25 punitive duty on exports of the same. However, towards the end of the meeting, they did not press for a complete ban.
Fibre2fashion News Desk - India
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