Yarn prices may force apparel firms to close
28/10/2009
Media in Pakistan have reported that a large number of apparel manufacturing facilities there may have to close because of high prices and a lack of availability of yarns.
A number of textile industry associations held a joint press conference on October 27 to complain about the situation. They urged the government to keep back from export some of the cotton and other yarns that Pakistan produces.
In the first quarter of the country's fiscal year (July to September) cotton exports increased by 39.2% and those of other yarns by 3.4%, while exports of textiles fell by 11.4%. Textile industry leaders have said that if the shortage of affordable raw material continues, apparel producers and other companies in the sector could face the closure or relocation of their operations.
Jawed Bilwani, chairman of the Pakistan Apparel Forum, said that the situation had become so bad that yarn was not available even on cash payment.
Share this story:
