The crisis of yarn price hike is worsening day-by-day. Government has neither banned the export of yarn nor imposed regulatory duty on the export of yarn due to which prices of yarn are continuously rising. Yarn prices have increased by 100 percent during the last 4 months.
As per details, yarn price of 40 single was Rs 700 in September, which has now increased to Rs 1400 per bundle in December. Eighty single yarn was selling at Rs 1600 which has now increased to Rs 2600 per bundle. Power looms associations and different trade unions are demanding a ban on the import of yarn and cotton but no avail resultantly about 100,000 power looms have closed.
