Government urged to protect textile industry from cotton crisis
Karachi: Chairman Pakistan Readymade Garments Manufacturers & Exporters Association PRGMEA Ijaz A. Khokhar urged Ministries of Textile Industry and Commerce to protect textile industry stakeholders from negative impact of prevailing cotton crisis.
He said downward trend in cotton prices internationally has put cotton farmers into a troublesome situation, leading to a crisis like situation for textile industry right from ginning, spinning, weaving, processing to value addition.
According to Khokhar value added textile industry is likely to lose a major chunk of its annual business due to undue delay in placing of Christmas orders by international buyers. Christmas orders are considered to be 60% of total annual business in value added industry.
He said PRGMEA has set ball rolling by inviting all stakeholders on a single platform for brainstorming as how a crisis like situation could be averted. But it is actually job of Ministries of Textile Industry & Commerce to engage stakeholders on possible solution. “We wrote to all stakeholders for a roundtable. Textile Industry Minister Makhdoom Shahabuddin should interact with stakeholders on possible solution to the problem.”