Pakistan becomes the largest buyer of Indian cotton
According to a report by Pakistan’s “The Nation” on August 18, due to the impact of whitefly, Pakistan’s domestic cotton production has been reduced on a large scale, and Pakistan’s cotton shortage has reached 40%. In the 2015/16 season, Pakistani textile mills imported 2.5 million bales of cotton from India, surpassing China and becoming the largest buyer of Indian cotton.
Aamir Fayyaz, chairman of the Punjab Province of the All Pakistan Textile Factories Association (APTMA), said that Pakistan’s textile industry is currently highly dependent on imported cotton, and the current import tariff of up to 9% will lead to a decrease in the competitiveness of the entire industry. He urged the government to reduce cotton import tariffs, solve problems in the textile industry, and increase investment in the industry. He believes that unless the government can reduce the cost of doing business, Pakistan’s cotton exports will decline further.
Ijaz Khokhar, chief coordinator of the Pakistan Readymade Garment Manufacturers and Exporters Association (PRGMEA), said that due to the inability to use cotton yarn in the domestic market, Pakistan’s readymade garment manufacturing industry began to decline. The shortage of raw materials means that garment exporters cannot guarantee normal shipments. A large number of buyers will turn to other countries’ products or drive down prices, which will lead to the collapse of Pakistan’s industry. According to reports, the ready-made garment manufacturing industry needs the government to remove yarn import tariff regulations and exempt customs duties and other taxes. Pakistan becomes the largest buyer of Indian cotton
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