Pakistani textile workers to take strike action
Representatives from across the Pakistani textile industry will strike on Friday because of cotton yarn price hikes, according to the Business Standard. The newspaper suggests around 12 million workers linked to the sector will join the strike.
The government has restricted cotton exports, but there is currently no restriction on cotton yarn exports. Domestic textile producers are suffering because around 80% of the yarn is now exported, so the limited availability is pushing prices higher and higher for Pakistani firms.
“We want the government to restrict [the] export of raw materials, including cotton and cotton yarn. China imports nearly 60% of our cotton and Bangladesh takes about 45% of our yarn, and the two countries then compete with us in Western markets,” explains Premal Udani, chairman of the Apparel Export Promotion Council (AEPC), a trade body that is sponsored by the textile ministry.
