MULTAN: Cotton Forum Chairman Ehsaanul Haq has termed the existing policies of the government on cotton as pro-India, adding that such policies are hampering economic growth of the country.
He stated that Pakistani cotton industry is facing the worst crisis of history due to enormous imperfections in the government strategies.
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He said that weaknesses in the existing system and policies are responsible for the whole mess. He added that almost 70 percent of the textile industry had been closed due to energy crisis in the country. The remaining 30 percent of the operational textile mills in the country have also lost their production capacity due to the energy crisis.
He told that declining trend in the costs of country cotton has created numerous issues for the cultivators and textile industry workers are also losing their employments in current scenario.
He expressed that Pakistan’s textile sector is a major contributor to the national economy and can do more if government gives it in better way but the bitter fact is that our textile industry is dying due to carelessness of government. The government is trying to increase exports, growth rate, investment or but the real challenge before the local industry and cotton producers is to compete with Indian cotton for the survival of cotton industry.
Pakistan has almost 300 textile mills which are running in the country and 80 percent of the mills exist in Punjab but Punjab is getting costly electricity than Sindh and KPK which unusually effects on the production of industry he expressed.
Pakistan have imposed the 5 percent duty on export of Cotton yarn and 28 percent on the fabric cloth from export to India while India have imposed high taxes on the export for protecting their trade interest.
He announced that all Pakistan textile mills association will stage a protest strike on August 7, 2015 nationwide for the rights of Industry
