FAISALABAD: The powerloom owners have decided to resume their agitation, called off on Nov 2 after the provincial government assured them that the problem of shortage of yarn and its high price in the local market would be resolved within four to five days.

The yarn prices increased to Rs1,200 to 1,500 per 48kg bag during last three days and most of the brands are not available in the market. Owing to the shortage of yarn the fabrics prices have also risen and traders are finding it difficult to continue their business.

Power Looms Action Committee chairman Mirza Shafiq Ahmed told Dawn that the Punjab and the federal governments did not take any action and as a result yarn prices registered a sharp rise during last two days. He said that price of 48-kg yarn bag rose to about Rs1,500 that led to the closure of about 100,000 power looms leaving about 15,000 to 20,000 workers jobless.

The entrepreneurs have decided in a meeting to stage the protest camp at the Clock Tower and hold rallies from different parts of the district.

Mr Ahmed said that the action committee again approached the Punjab government ministers and informed them that situation of yarn shortage was going from bad to worse and the government was not honouring its commitment.

However, both the ministers in a meeting with the delegation reiterated their commitments to solve the issue shortly.

He said that industrialists were fed up with the false promises made by the government and would shortly resume the protest drive on a mass level.

Like the power looms owners exporters and industrialists belonging to the knitwear sector are also up in the arms over the yarn crisis.

Pakistan Textile Exporters Association (PTEA) chairman Khurram Mukhtar said the spinners had been exporting cotton at Rs4,300 maund that would create more problems for the government in future when it would have to import the same at Rs5,000, to 5,500 per maund for local consumption.

The Pakistan Hosiery Manufactures and Exporters Association (PHMA) spokesman Naeem Ahmed said spinning mills were exporting hundred per cent production of yarn only for profit and were damaging the local textile industry. He said the deliberate delay by the government to tackle the yarn crisis had worsened the situation that would lead to retrenchment of hundreds of workers.

He demanded of the government to impose 10 per cent duty on yarn export to protect interests of all segments of the textile industry.