September 4, 2003	Thursday	Rajab 6, 1424

LAHORE, Sept 3: Several exporters from the Punjab capital have cancelled exports orders of about 3.5 million pieces of men’s shirts to the US because of high quota prices which have risen to Rs850 per dozen from Rs300.

“These exporters have already exhausted their quota allocation and do not find it economically viable for them to purchase extra quota at such a high rate to execute the orders. The cancellation of orders is a result of shortage of quota (in category 338) available to the exporters,” Pakistan Knitwear and Sweaters Exporters chairman Shahzad Azam Khan and Pakistan Hosiery Manufacturers Association (PHMA-North) chairman Adil Butt told Dawn here on Wednesday.

They said it was the need of the hour that the Quota Supervisory Council (QSC) and the government should forthwith transfer the flexibility quota to the exporters. They claimed more cancellations of export orders were in the offing due to shortage of quota.