January 8, 2002	Tuesday	Shawwal 23, 1422

KARACHI, Jan 7: The chairman, Aptma, Nadeem Maqbool said on Monday export contract from US buyers had registered a substantial fall, and the quantum of decline in textiles could only be known after three months.

In a meet the press programme held at Karachi Press Club, the Aptma chief said that presently there was a lesser off-take of yarn and fabric in the local market, which indicated of reduced export orders.

He said the cotton yarn export had already registered a fall of around 10 per cent and of fabric by one to two per cent, which indicated annual shortfall in textile exports by around $1 billion.

Responding to a question, Nadeem Maqbool said that host of factors could be reckoned to be the cause of decline in textile exports.

Besides the Sept 11 incident, he said, the recession in the world markets, particularly in the western markets were the reasons for slower exports of textiles.

Nadeem Mabqool said Aptma has advised its members to import polyester yarn from aboard, which was still cheaper by Rs5 per kg than the locally produced.

He said the textile industry had to purchase cotton higher than world market rates and similarly the polyester yarn was also available to the industry above world market rates.

He expressed the hope that increase in textile quota by European Union and zero tariff on imports from Pakistan for a number of goods could help make up the losses the country had sustained on account of Sept 11 incident and world recession.