Cotton imports via Thorkhum should be allowed, India cotton cheapest, quickest way to overcome shortage
Karachi (Pakistan Point News - 05rd March, 2021) Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said cotton scarcity and hoarding has become a threat to the largest export sector.
Cotton imports from Afghanistan and central Asia should be allowed via Thorkhum while import from India must be considered in the national interest, he said.
Mian Zahid Hussain said that India is the cheapest and quickest option to fulfil the demand and supply gap which has increased prices by 40 percent in two months threatening the textile sector.
Mian Zahid Hussain said that quick imports through land route is the best option as it will also discourage hoarding therefore imports via Thorkhum should be allowed for 15 months while imports from India for the next four to six months should be considered in line with the demand of different textile associations.
Talking to the business community, the veteran business leader said that why can't we import cotton from India while pharma products are already being imported.
He said that local cotton production has been falling for the last fifteen years but it has made headlines during the last two years as farmers are switching to other crops, concerned authorities are not discharging their duties which cost of doing business in on the increase.
He said that the textile sector needs 12 million bales annually and they would need to spend billions to bridge the shortfall but it is the only available option to fulfil their commitments.
Textile is the biggest employment provider sector which should be helped to overcome problems in the national interests, he demanded.
