Aptma rejects plea to cut yarn export ceiling
The All Pakistan Textile Mills Association said that prices of made- ups in the world market had risen by 15pc and that dollar-rupee parity also changed to almost Rs85 and none of the value added units had closed down in the last three months. KARACHI: The All Pakistan Textile Mills Association (Aptma) has rejected the value-added textile sector’s demand for reducing ceiling on yarn export by making amendment in the SRO of Jan 14, 2010 issued by the ministry of commerce. In a statement issued on Thursday vice-chairman Aptma Yasin Siddik claimed that ever since the value-added sector raised demand for restriction on yarn exports, the prices of made-ups in the world market had risen by 15 per cent and that dollar-rupee parity also changed from Rs82 in October to almost Rs85 as of today. Similarly, he said that in the recently held Heimtex fair at Frankfurt the value-added textile sector received good orders at better prices and none of the units have closed down in the last three months. Mr Siddik further said that ceiling on yarn exports had been fixed after extensive consultations by all the relevant ministries, including the Senate standing committee on Textiles. The 50,000 tons figure was arrived at after looking at the average exports of last three years. Therefore, he said the demand of the value-added sector to deduct export of yarn from remaining six months (Jan to June) of current fiscal is illogical as it was not possible for them to consume more than the existing quantity available for domestic market. He alleged that all these tactics by the value-added sector is to pressurise the spinners to sell yarn at cheaper rates and on easy payment terms and conditions to cover up their inefficiency. The Aptma vice-chairman demanded that banks be directed to give export refinance only against the pledge of raw material and finished goods in order to ensure that cheaper funds are utilised only for genuine purposes.http://www.dawn.com/wps/wcm/connect/dawn-content-library/dawn/the-newspaper/business/13+aptma-rejects-plea-to-cut-yarn-export-ceiling-520-za-09 |
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