October 16, 2003	Thursday	Sha'aban 19, 1424

KARACHI, Oct 15: The chairman, Pakistan Commercial Exporters of Towels Association (PCETA-South Circle), has disclosed that the sanction of European Union’s 15 per cent extra textile quota in all categories for 2003 has been officially received by the authorities concerned.

Demanding an immediate allocation to exporters, he warned that any delay would encourage quota-brokers to use blackmailing tactics as had been the case with exceptional flexibility quota which was released after a delay of four months.

The PCETA chairman demanded immediate ban on export of raw cotton which has recorded unprecedented price hike in the local market. As a result of this, he said, yarn prices have also soared between 18 to 22 per cent.