AMRITSAR: Pakistan’s textile industry got a fresh lease of life after the cabinet’s Economic Coordination Committee (ECC) approved cotton and cotton yarn import from India.
While talking to TOI on Wednesday, patron in chief of Pakistan Textile Exporters Association (PTEA) Khurram Mukhtar informed that ECC of the cabinet had approved cotton and yarn import from India.
He said that the notification could be issued in near future to pave way for the import of cotton from India.
Sources here informed that the decision had been taken by Pakistan government in wake of a severe shortage of raw material for the cotton textile industry which had resulted in the closure of several textile units.
Pakistan had suspended the trade relations with India after New Delhi revoked the special status given to Jammu and Kashmir in 2019.
However, in May 2020 Pakistan began importing medicines and raw material from India to meet its domestic demand.
Suspension of trade with India has severely impacted Pakistan’s textile and apparel industry forcing Pakistan industrialists to urge prime minister Imran Khan to import cotton bales from India for the revival of cotton textile trade .
Khurram informed that Pakistan required 15 million bales of cotton every year as against the home production of around 9.5 million bales a year and the rest had to be imported to meet the domestic demand adding that Pakistan import Shankar 6 variety of cotton from India.
The major countries from where Pakistan import cotton bales and yarn includes US, Australia, Afric, Egypt etc.
When asked why Pakistani industrialists prefer Indian cotton, Khurram replied “Let me make it clear, giving preference to Indian cotton has nothing to do with the quality, market economy or the pricing since the global market drive the cotton pricing. It is more of a neighbourhood, a status which can’t be changed so why not give preference to Indian cotton, our gesture will help generate employment for a large number of people.”
In the recent past, PTEA had written to Pakistan prime minister Imran Khan for importing cotton yarn from India.
“We are focused on the maximisation of textile manufacturing and export potential by forming a winning combination of best business efforts and supportive government policies. We are targeted at the accomplishment of ideal textile manufacturing and exports to boost the economy” said the patron in chief of PTEA.
Stating that the current cotton price in Pakistan was Rs 11,000 per maund, Khurram said cotton was a principal industrial crop of Pakistan and was the backbone of the textile industry.
Source:timesofindia.indiatimes.com