January 24, 2008	Thursday	Muharram 14, 1429

KARACHI, Jan 23: High cotton yarn prices have severely damaged the viability of textile apparel industry which has already been fighting a war of its survival owing to high cost of production and utilities’ charges.

Pakistan Hosiery Manufacturers Association chairman Jawed Bilwani, in a statement on Wednesday, said that the rising prices of cotton yarn were a great burden crippling the value-added apparel exports.

He said that stiff competition from neighbouring countries in the world market coupled with continuing domestic turmoil, negative travel advisories by foreign governments were the factors which had added to the woes of the industry.

He said that it was alarming that price of 30 single-count yarn was being quoted at Rs73 per pound as against Rs62 about five months ago. Similarly, the 20 single-count yarn was now being sold at Rs65 per pound as against Rs52.

Mr Bilwani said that value-added apparel sector gave jobs to millions of workers, including a large number of females, many of whom lost their jobs due to a large number of closures.

He urged upon the government to take immediate measures to check yarn prices and to ensure its availability in the domestic market at reasonable rates. He suggested that an exporter who furnishes a copy of LC to yarn dealer should be ensured of yarn supply throughout the year at a fixed price.