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Pakistan:The ''Ayes'' and ''Nays'' of cotton yarn exports |
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2004-9-6
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It is a grand tussel going between the ancillary textile industry and spinning sector over the export of cotton yarn.
While the ancillary industry demands restrictions on the export of cotton yarn to ease prices and supply, the spinners strongly oppose such moves.
They say a sufficient quantity of the commodity is available at competitive rates for value-added products.
On average, the spinning industry exports around about 27 percent of the total production while the rest is consumed locally.
Producers of value-added products say that due to high yarn prices since early 2004, four leading knitwear units closed down in Lahore and over 20 in Karachi, and more to follow soon.
The spinners, on the other hand, who export 80 percent of their production, enjoy the presumptive tax facility. The All-Pakistan Textile Mills Association (APTMA) wants the incentives to continue since most APTMA’s members are spinners.
With the textile quotas going from January, 2005, it will be interesting to see who scores better as the industry per se gears to get a chunk of the international markets. |
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