recently, Pakistan’s textile exporters have collectively decided that due to the soaring price of cotton yarn in their domestic market, Pakistan’s exporters will stop buying domestic cotton yarn and close down their factories when they have to. 1t is reported that the purpose of the decision is to urge the Pakistani government to take action to curb speculation in the local cotton yarn market
at present, the rapid rise of cotton yarn price in Pakistan, coupled with energy shortage and other factors, has led to the decline of its textile export competitiveness, causing dissatisfaction in the industry. 1n addition, the textile industry also asked the government to reduce import tariffs on man-made fibers to ease the situation of high cotton yarn prices
Author: Bashang