FAISALABAD, May 9: Textile exporters, powerloom weavers and hosiery manufacturers have called upon to cap the yarn export, bring retailers to sales tax net, raid hoarders' godowns and ban post business hours trade to bring down the yarn prices to save the textile industry from crisis.

These demands were made by office-bearers of the All Pakistan Cloth Exporters Association (APCEA), All Pakistan Cotton Powerloom Association (APCPA) and Pakistan Hosiery Manufacturers Association (PHMA) in a meeting held here on Saturday with convener Chaudhry Muhammad Siddiq in the chair.

They pointed out that yarn prices had gone up by 20 percent over the last five months. The weavers, knitters and made up exporters were facing difficulties due to the exorbitant price hike.

Thousands of small and medium size powerloom units were lying idle due to high cost of raw material, they said. APCPA chairman Rana Akhlaque Ahmed and Chaudhry Abdul Haq said the yarn export, which was 37 million kg in December last, had gone up to 54 million kg in March this year.

The increase of 17 million kg per month had created shortage of yarn in the local market. Some unscrupulous elements, they lamented, were also hoarding thousands of yarn bags, which had further increased its prices in the domestic market.

Representatives of the textile sector said that some irresponsible elements were indulging in speculation late at night which was another cause of instability in the local yarn market. They demanded that the authorities concerned should cap the yarn export at 30 million kg in addition to bringing retailers to the sales tax net.