KARACHI: Pakistan Apparel Forum (PAF) has asked the federal government for a complete ban on export of cotton from Pakistan
PAF, a cluster of various textile and garment sector body, including Pakistan Hosiery Manufacturing Association, Pakistan Readymade Garment Manufacturers and Exporters Association, Pakistan Cotton Fashion Apparel Manufacturers and Exporters Association jointly urged the government to immediately restrict the export of cotton in order to save the apparel industry from the crises.
Chief of PAF, M Naqi Bari, said domestic consumption of cotton was around 15.5 million bales annually while its total production in crop season 2007-08 stood about 12.6 million bales. He said the export of cotton from Pakistan at this stage is tantamount to destruction of apparel industry. The country imports lint worth Rs 50 billion annually to meet the shortfall of about 3.5 to 4 million bales. Bari said the value added apparel industry was already facing a number of problems and recent export of around 10,000 bales of cotton to India has badly shaken this industry, which would lead to its collapse. He said the cotton, which used to be available at Rs 2,700 per maund to Rs 3,000 per maund has surged to a price of Rs 4,200 per maund and there were chances that price of raw cotton would further increase.
He said the medium size exporters who did not have the capacity to stock the cotton, required to meet the export orders of whole year would have to bear the brunt of increased financial cost of their apparels. He said the export of lint from the country would put the entire sector at a disadvantage stage and it would be hard to meet their existing export commitments. |