The Federal Ministry of Textiles has decided in principle to present the proposal for banning exports of cotton yarn or imposing duty on the same, before the cabinet committee on textiles to take a decision on the same.
This was revealed by the textiles minister, who said that, the present government was committed to resolve all grievances of the textile sector on a priority basis in an effort to provide maximum support and assistance.
He expressed these views during a meeting to discuss emerging trends in cotton yarn markets which was attended by various stakeholders from the textile and value added industries like garments and home textiles.
It was brought before the notice of the Minister that cotton yarn prices have shot up by more than 30 percent in the last one month along with which there is also a shortage which has the potency to harm exports.
He assured the representatives of the value added sector that this matter would be discussed with utmost concern in the meeting of the committee on textiles to be held on Friday to find a solution.
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