Exporters Of Pakistani Textiles Stop Buying Homemade Cotton Yarn

At present, Pakistan's domestic cotton yarn prices are rising rapidly, coupled with energy shortages and other factors leading to its textile export competitiveness decline, causing industry dissatisfaction.

In addition, the textile industry also asked the government to reduce import tariffs on man-made fibers to ease the high price of cotton yarn.

Supplement:

Pakistan textile exporters have decided to stop buying their own cotton yarns, because the price of yarn in the domestic market is too high to prevent the situation from deteriorating, and they have closed the factory.

On Wednesday, domestic textile exporters convened an emergency meeting to unanimously decide to crack down on speculation in the domestic yarn Market and curb market uncertainty.

Participants pointed out that the recent sharp rise in yarn prices has caused a fatal blow to the textile industry. The textile industry has been in a downturn, and the production cost is beyond the control range. Because of the high price, the export products are not competitive.

The interruption of supply of natural gas has increased the difficulties of the textile industry, so the textile industry is now on the brink of collapse.

Under such circumstances, they were forced to stop buying yarn, while closing factories to prevent the situation from deteriorating.

They also say polyester fiber is an alternative material, but the price of polyester fibers exceeds the purchasing power of textile exporters.

They called for the abolition of polyester fiber import duties.