April 6, 2021 (MLN): The Federal Cabinet in its meeting on April 1, 2021, directed the Ministry of Commerce (MOC) to re-examine the issue of supply constraints of Cotton & Cotton Yarn for the value-added sector.
The cabinet also instructed MOC to come up with alternative proposals in order to ensure their availability and stabilize prices.
In this regard, Adviser to Prime Minister of Pakistan for Commerce and Investment, Abdul Razaq Dawood via his official Twitter handle on Tuesday, informed that as a follow-up, a meeting was held yesterday with some of the stakeholders from the value-added sectors.
More meetings will be held with other stakeholders and then proposals will be submitted to the ECC, he added.
Meanwhile, it is important to note that on Thursday, the federal cabinet rejected a decision of its Economic Coordination Committee (ECC) that had approved the revival of trade relations with India by allowing imports of sugar, cotton, and cotton yarn through land and sea routes to address rising prices and shortages. After which, the value-added textile sector of Pakistan had expressed its reservations about the cabinet’s refusal to allow the import of cotton yarn from India, saying that if the raw material is not available to the industry at economical rates, meeting the export orders would become difficult.
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