NWFP spinners offer yarn supply to F'abad

PESHAWAR (APP) - Chairman, All Pakistan Textile Mills Association (APTMA) NWFP, Afan Aziz has dispelled the impression of the non-availability of cotton-yarn in the local market, saying that sufficient stock of the commodity was available with the spinning industry of the country.
Addressing a press conference here on Saturday, he said that some vested interests were out to influence government for putting ban on the export of cotton-yarn. He said that ban on the export of commodity would cast negative effect on the sector. He urged the government not to come for serving the interests of the vested interests and offered the sending of the convoy of one thousand cotton-yarn loaded trucks to Faisalabad every week to prove that the country was facing no shortage of the commodity.
One thousand trucks, he said, would transport 10,000-ton cotton yarn worth Rs.2 billion. He said that spinning industry is in position to arrange the required cotton-yarn each week.
Afan Aziz requested the government not to ban the export and continue and allow free-market mechanism. He said that during the cotton-yarn crisis, the industry had imported the commodity from Peoples Republic of China and India. He said that they are to prove the availability of sufficient stock next week.
He suggested equal treatment of all related sectors of the industry.
He said that government should ban all products and allow the export of only finished textile products. He said that spinning industry was determined to prove the propaganda regarding unavailability of cotton-yarn as totally wrong and false.
The chief of APTMA NWFP chapter was of the view that the violation of the market mechanism would be sheer injustice with the spinning industry. He said that in such situation, the industry will not be in position to run and they will be having no other option than going on a strike. It would be better for us to close down the mills and export the available cotton-yarn and closed our mills, added Afan Aziz.
Speaking in favour of free market economy, he said that it encouraged investment in the country. He said that Pakistan exports cotton-yarn worth US$ 1.5 billion annually. But, he said with concern that some elements were out to deprive Pakistan of it.
He said that cotton-yarn is an international trade commodity and its rate is fixed on the basis of international price index. Pakistan, he said is fourth largest cotton producing country. Six months back, he said that six months back the price was 50 cents and now it is being traded at 75 cents.
He said due to increasing trend in international market the price of the commodity increased in Pakistan that prompted the industry of Faisalabad for strike making hue and cry saying that all cotton-yarn had been exported and the commodity is shortage in the country.
The APTMA official recalled that spinning industry has passed through severe recession during last three years. He said that the country has 400 spinning mills, which had provided employment opportunity to more than 1.2 people in the country. 10 of these mills, he said had survived despite power outages and higher market-up on loans and higher prices of the diesel and petrol. He said that only 90 mills, which were 25 per cent of the total mills have been affected while the mills of NWFP have survived due to good management.
The capacity of 25 percent more mills, he said have went down by 50 percent, they too just for showing to financial institutions.
The problems faced by the spinning mills of NWFP were included kidnapping for ransom and bomb blasts that were discouraging the arrival of the buyers. However, the situation, he said last the sector registered improvement against recession and their business started giving benefits. But, it was not digested by the vested interests, who are demanding ban on the export for pity gains.