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Govt-textile bodies to discuss yarn price hike today

RECORDER REPORT

FAISALABAD: The negotiation between Government and textile associations over yarn price hike will start at Islamabad Friday (today).

This was disclosed by Mian Naeem Omer, chairman, All Pakistan Cloth Exporters Association (Apcea), Rana Ikhlaq Ahmad, chairman, All Pakistan Cotton Powerlooms Association (APCPA), Rana Talib Hussain, chairman, All Pakistan Sizing Factories Association and Ch Mohammed Aslam, former chairman, Hosiery Manufacturers Association, after a joint meeting of the representatives of textile association, here last night.

They said that 15 to 20 percent powerlooms, hosiery units and other yarn consuming units have been closed down as a result of the reckless of export of yarn.

They said that yarn is the basic need of powerloom industry and hosieries, which are not only labour intensive but also export-oriented sectors.

The leaders of textile associations warned that if the government did not take immediate action to control the price hike of yarn, the production and export of cloth, bed sheet, textile made-ups, garments and knitwear will be badly affected, while millions will be jobless.

They strongly demanded that the export of yarn for the protection of domestic ancillary industry and export refinance should be withdrawn in the national interest.

The spinners are misusing the export refinance facility and piling up their yarn stock for yielding maximum profit and creating shortage of various counts of yarn, they concluded.

During the press briefing, Mohammed Akram Ghouri, former chairman, APCPA, Rana Faqir Ahmad and Ch Abdul Haq, senior executive APCPA members, Ch Javed Sadiq Kahloon, senior vice chairman, Apcea and Mushtaq Ali Cheema, former chairman Apcea were also present on the occasion.