KARACHI, July 22: The Federation of Pakistan Chambers of Commerce and Industry has strongly criticised the export of 10,000 cotton bales to India.

In a statement on Tuesday, FPCCI President Tanvir A. Sheikh demanded of the government to immediately reverse the decision.

“In the last fiscal year, we observed decreasing trend in the textile sector. One of the major reasons of this trend is shortage of raw cotton due to decline in its local production. It will become very difficult for us to achieve export target of $2.1 billion this year if the government does not take this matter seriously,” he said.

Mr Sheikh said the permission to allow export of cotton to India was not at all in the interest of the country, as due to this export decision the local price of cotton had risen to Rs4,100 per maund.