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Spinners and ginners create artificial shortage of cotton yarn in Pakistan

At a time when international buyers were planning to place orders for Christmas, the apparel industry in Pakistan has claimed that it has been facing severe shortage of cotton yarn.

Basically, owing to artificial shortage of cotton yarn, created by the spinning as well as ginning industry, which are holding stock in the hope of further hike in rates and the price factor, the local garment industry is not capable of entertaining the international buyers, chief coordinator of Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) Ijaz Khokhar observed.

Overburdened by more than 11% multiple taxes and utility cost, the apparel industry has been demanding at least 15% special support to stay in international export market, otherwise all current businesses will out to other countries, he cautioned.

Further, the PRGMEA official rued that garment exporters were nervous to make any shipment well in time due to artificial scarcity of raw material that is forcing buyers turn to other countries that are offering lower rates.

He said that the apparel export sector was under severe pressure due to tough competition in the international market from countries like Bangladesh, Vietnam and Cambodia. Squeezing the apparel export sector will lead to decline in export earnings coupled with unemployment in the country, he warned.

 
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