Business
March 5, 2021
ISLAMABAD: Prime Minister Imran Khan nodded to cross-border import of cotton yarn as the shortage of industrial input is feared to stymie recovery in textile exports.
Commerce Adviser Razak Dawood said the Prime Minister showed his concern on shortage and escalating cotton yarn prices in the country during a meeting.
â[He] instructed to take necessary measures, including cross border trade of cotton yarn, to keep the momentum of value-added exports,â Dawood wrote on Twitter.
The government is considering import of cotton from India to meet the local demands, according to media reports.
Cotton production came down to 5.5 million bales from as much as 15 million bales recoded annually in previous years, causing unstoppable rise in its prices.
PM approves cross-border yarn import
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
PM approves cross-border yarn import
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
Yarn manufacturers seek implementation of lower power tariff
Official says over one month has passed since government announced subsidy
It was proposed that 5% regulatory duty may be removed on cotton yarn till June 30, 2021, by the time the situation of cotton would be reviewed again. PHOTO: REUTERS
Yarn manufacturers have requested the federal government to implement the schedule of reduction in electricity tariff, which it had announced for the export-oriented sector.
In a statement on Saturday, Pakistan Yarn Merchants Association (PYMA) Senior Vice Chairman Muhammad Hanif Lakhany said that the government should direct the electricity distribution companies to follow the notification immediately.