960414

Avake satisfied

over TQMD

decision

RECORDER REPORT

LAHORE: The Association of Value-added Knitwear Exporters (AVAKE) has expressed its satisfaction over the issuance of the flexibilities in the US quota categories-338 and 339 by the Textile Quota Management Directorate (TQMD) for the year 1996.

Under the flexibilities, every quota exporter can avail up to 28 percent additional quota in the year 1996 over his 1995 actual performance.

As its annual general meeting (AGM) held at a local hotel on Saturday, the association felt that this announcement would sharply bring down the quota prices.

Belal Ahmed, who was earlier elected as the chief coordinator of the association, said that the TQMD should also make announcement for the allocation of balance quota in category 38 and auction of growth quota at earliest possible date - i.e. before June 30 next.