Decrease in cotton prices good sign for cotton-made garments

SIALKOT: Pakistan Hosiery Manufacturers Association (PHMA) has said that the decline in cotton prices will not affect the exports of hosiery and knitwear, as the decrease in cotton prices would be a good sign for the cotton-made garments.

PHMA Sialkot Vice Chairman Faisal Mehboob, while talking to the newsmen here today, said that it was really difficult to compete the prices in the international markets due to hike in the price of cotton and many orders have been cancelled due to same reason.

This is not right phenomena that the export of textile sector is increased due to high cotton prices, we should keep it in our view that thousands of orders were also cancelled due to high price of cotton and value added textile industry suffered badly during the period of sky rocking price of cotton, he added.

It will help to compete the international market and get maximum share of value added textile orders from the world if the prices of cotton is declined in the domestic market, he said.

Faisal Mehboob said that all the stake holders of value added textile industry struggled very hard to convince the government on this issue and the price got low but now some individuals are trying to create a panic by pushing the concern authorities to increase the prices of cotton in domestic market.

He revealed that due to energy crises, the value added industry is already facing rocking problems to fulfil the customers demands so the price of the cotton must be set on the supply and demand bases.

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