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March 6, 2021

Yarn import from India opposed

Business

March 6, 2021

KARACHI: Asif Inam, chairman of All Pakistan Textile Mills Association (APTMA) Sindh-Balochistan Region, has expressed concern over the drastic decline in the price of fine counts of yarn by Rs10,000/bag in the Faisalabad yarn market, in anticipation of the permission to allow the import of cotton yarn from India through Wagah Border, a statement said on Friday.

The industry procured cotton at very high prices and they were not in a position to sustain these losses, he said, adding that around 90 percent of yarn produced in the country was available for the domestic market and there was no shortage of yarn in the country.

He urged the government not to allow the import of cotton yarn from India, as it had restricted the import of all Pakistani products.