Protect free market: APTMA

LAHORE: All Pakistan Textiles Mills Association (APTMA) has warned that any distortion in policy of free market mechanism from cotton to garment in the textile supply chain would be a disaster for the textile exports of Pakistan.

The trade body pointed out that Pakistan was facing a severe shortage of cotton – almost seven million bales – and was meeting it with imports, a statement said.

It further added that APTMA was standing solid to meet the downstream requirements of which only 50 percent was consumed by the value-added garments and home textile.

The balance 50 percent was exported in the form of yarn and fabric, earning $5 billion. The association said that better prices after 2011, would encourage farmers to sow cotton.

Free market mechanism ensures international prices to the complete chain from cotton to dyed fabrics, which was why Pakistan sustained the biggest crop failure this year and still was on a 20 percent growth path, exports wise, especially because of regional energy tariff of $6.5 for gas and 7.5 cents for electricity, the statement concluded.