KARACHI: All Pakistan Textile Mills Association (APTMA) has rejected the idea of imposing any restriction on export of cotton yarn as it would be counter productive and against the interest of the spinning industry.

In a statement issued on Thursday Chairman APTMA, Sindh-Balochistan zone, Yasin Siddik expressed concern over the statements by the value-added sector regarding the shortage and high prices of yarn.

He said spinners were offering yarn at prevailing market prices but the value-added textile sector is demanding yarn at lower prices.

To bring down the prices of yarn various suggestions are being floated.

However, Mr Siddik cautioned that in case of imposing restriction on export of yarn it will affect spinning industry, which had already incurred heavy losses for the last two years and suffered bank defaults.

He said such action would also discourage new investments in expansion and modernization, which is badly needed to meet the growing demand of yarn.

The APTMA zonal chief said that with the use of certified BT cotton seeds expected from next year the cotton production would increase and if the spinning capacity is not increased in time the conversion of cotton into yarn would not be possible to meet the demand.