Pakistan Yarn crisis upgrade Spinning mill The value-added textile industry has decided to give up their differences and solve problems through dialogue, aiming at providing the government with a strategy to jointly revitalize the textile industry.

Informed sources said on Thursday that Prime Minister Yusuf Raza Gillani (Yousuf Raza Gilani) personally intervened and asked the textile minister Rana Mohamed Farooq (Rana Mohammed Farooq) to convene the two sides to end the 9 month old yarn crisis because it has seriously affected Pakistan's textile exports.

The leaders of the Pakistan Textile Mills Association (APTMA) predict that if the textile policy is carefully implemented this year, textile Exports are likely to reach US $16 billion.

The two sides agreed to set up a committee of 16 people, 8 of them from the value-added sector and the Pakistan Textile Mills Association (APTMA). The committee will convene in recent days to resolve the differences between the two sides.

The prime minister is under pressure from voters in cotton growing areas. He hopes to solve the yarn crisis before cotton picking is fully developed. All stakeholders agreed that it would be impossible to reduce yarn prices to current cotton prices.

Supplement:

Pakistan's textile industry owners held a meeting with the government last week to ensure that the quotas and tariffs on yarn export began to be abolished in July 26th. But the added value textile department hopes that the government will continue to impose tariffs on yarn for another year.

The crisis surrounding yarn has not yet been resolved, although the Ministry of textiles has taken several policy measures to ensure yarn prices at reduced prices.

At present, the added value textile department has complained that the shortage of yarn has led to an increase in yarn prices. The owners of the spinning industry condemned the government for adopting a fraud policy in opening up the market economy and rejecting the export opportunities of the spinning mills, and the government imposed restrictions and tariffs on export yarns.

In the value-added textile department meeting with Prime Minister Gilani and textile minister, the president of the spinning industry association Rana Faruqi put forward these requirements, asking the government to continue to levy tariffs on yarn.

In addition, the value-added textile sector asked the government to freeze the debt of 300 billion rupees of the Department for three years and adopt a rescue policy, similar to that of the industry at the end of 90s.

However, some associations met with the Minister of Finance and were assured that temporary restrictions and tariffs on yarn export requisition will be concluded and no longer extended from July 26th.

At present, the price of yarn in the international market is 127 rupees / pounds, while the price in the domestic market of Pakistan is 115 rupees / pounds.