According to Pakistan’s “Business Record” report, six large textile industry associations including the Pakistan Textile Exporters Association (PTEA) recently decided to jointly launch a nationwide publicity campaign with the theme of “Protecting Value-Added Industries” to request the government Restrict the export of raw cotton and cotton yarn to protect high value-added textile companies.
The above-mentioned association believes that Pakistan’s exports of raw cotton and cotton yarn are only US$5 billion, but the export value of high value-added textiles affected by this is as high as US$25 billion. In addition, due to the shortage of raw materials and insufficient business operation, imported textile machinery worth 10 billion US dollars will be idle, resulting in a large amount of waste of resources and a large number of unemployed workers.
It is also reported that the Pakistani government has required cotton yarn exports to be registered. After discussion at last Friday’s meeting, the Pakistani government announced that cotton yarn exports need to be registered with the Pakistan Trade Development Authority in order to more accurately grasp the export trade volume. This decision will take effect as soon as possible. Previously, the country’s textile downstream industry had requested the government to ban the export of cotton yarn due to high cotton yarn prices.
This news has not had a significant impact on the domestic cotton market. The current delivery price of Xinhua ginning factory is 4350-4450 rupees/maund (63.10-64.55 cents/pound).
