The Cabinet Committee on Textiles, after reviewing present cotton and yarn situation and taking into account export trends and local availability, has decided that the Trade Development Authority of Pakistan (TDAP) should monitor all exports of yarn through a system of registration of export contracts.
In pursuance of the cabinet committee's decision, Chief Executive of TDAP, Syed Mohibullah Shah, held a series of meetings with various stakeholders including representatives of downstream industries as well as APTMA and others to evolve a mutually acceptable system of registration keeping in view the principles enshrined in the committee decision.
Meanwhile, a final and joint meeting of all the stakeholders was held here on Friday at the TDAP head office in which details of the notification were discussed.
In light of the consensus reached and in pursuance of the decision of the committee on textiles, the TDAP has issued the notification for registration of yarn export. Now the exporters of yarn would file with the TDAP the registration certificate aimed at collecting the information for fair and transparent monitoring of the export trade in yarn.
According to the TDAP, a monitoring committee encompassing two representatives of downstream and one each from APTMA, Karachi Cotton Association, State Bank of Pakistan and Customs will supervise its implementation.
