“He further declared that government would not put the cotton growers at the mercy of the market manipulators and would purchase the entire produce of the cotton and subsequently release it to the spinning sector as per demand”
“He said that the federal government was making solid policies for the further development of textile sector and to enhance its productivity and its potential of earning 25 billion dollar annually, adding that to achieve this task every support would be provided to the stakeholders .
“He said that present government was making sincere efforts for protecting the rights of all the stakeholders including spinning, vale added textile sector and cotton fabrics .
“He said that 15 percent regulatory duty was imposed on yarn export, keeping in view of saving the value added textile sector from its complete collapse as they are already facing a great deal of difficulties for honoring their export commitments made with the foreign buyers .
“The minister said that due to the imposition of duty on yarn export, the value added textile sector received a considerable relief and it will also bring down the prices of the yarn to considerable extent .
“It would be unfair if for the interest of the 20 big spinning owners, the entire value added sector be put on trouble”, he added .
“He said that the value added textile sector had a great potential and it could earn more foreign exchange and put the country on prosperity. In this back drop the present government had to intervene to save the value added textile sector from complete collapse .
“He said that being an elder brother, spinning sector should also realize the ground realities and make flexibility in its stance for the overall interest of industry .
“He said that over 20 million laborers directly or indirectly are attached with the value added textile sector and yarn crisis put their employment at stake and adding that imposition of regulatory duty was the right decision of the government in stead of playing a role of silent spectator and rendering such a high number of laborers to jobless .
“He hoped that the spinning sector would also appreciate the government decision for imposing duty on a right direction and it should be taken in a good faith and support it rather than making hue and cry. .
Date:5/29/2010
Source:Reuters