As
a result of imports of 0.2 million bales of cotton from Western Africa,
Central Asian States and USA would cost the country nearly 70 million
dollars, Naseem Usman said. It is not surprising because it was
expected after the Indian ban on exports of cotton, he said”.”We
are still facing shortage of about 1.5 million bales of cotton to meet
the export commitments, he added. Other brokers said that exporters are
facing difficulty in meeting their commitments owing to shortage and
high yarn prices in domestic market. To tackle the present crisis, the
downstream textile industry has set up a body to facilitate exporters
in procuring fabrics from different countries at competitive prices,
they said ..They also said that, India despite having surplus
cotton has imposed ban on its exports in national interest. Some weeks
ago here the government ignored demands of the value-added textile
industry. The Pak government must provide basic facilities to the
textile industry, because this is the only sector, which is earning
major share of foreign exchange, they added .
Date:4/26/2010
Source:www.thenews.com.pk