The textile industry in Pakistan imported 624,945 tonnes of raw
cotton between July to March against 338,244 tonnes last year an
increase of 84.76 percent. The import of synthetic fibre grew by
52.29 percent to 346,254 tonnes as against 227,365 tonnes last
year. The import of synthetic and artificial silk yarn stood at
316,656 metric tons this year vs 210,810 metric tons last years
an increase of 50.21pc.
Pakistan has decided to import cotton from the Central Asian
states through the Torkham border. The Ministry of Commerce has
sought the ECC’s approval to import cotton from Afghanistan and
Central Asian states, including Turkmenistan and Uzbekistan. The
Economic Coordination Committee will take up the MoC’s summary
on cotton import.
Pakistan’s exports of textile and clothing posted a growth of
30.4 per cent from a year ago. The export value of these sectors
edged up to $1.355 billion in March from $1.039 bn over the
corresponding month of last year. Growth in exports of
value-added sectors contributed to an increase in overall
exports from the sectors.
The cotton yield fell to nine maund per acre during the season
ended with just 5.5 million bales, almost one third of the
production we achieved with 14.8 m bales a few years ago. The
Pakistan Cotton Ginners Association (PCGA) strongly opposed
cotton imports from India, maintaining that the move would
discourage local growers from sowing this cash crop.
National Food Security and Research Minister Syed Fakhar Imam
said that cotton growers would soon be given special incentives
by the federal and provincial governments in the form of
cotton-specific subsidies. He said that Punjab Seed Council has
introduced 17 new varieties, including a double-gene variety,
whereas Sindh has introduced three new varieties.
The fortnightly report of the Pakistan Cotton Ginners
Association shows that 72,000 bales of cotton were sold to
exporters. During the past three months, cotton yarn 30/1 prices
have been increased by 15%. In the last six months, the dollar
has also depreciated against the Pak rupee by 5.58% down from Rs
166.5 to Rs 157.2. Exporters previously had negotiated and
finalized their export orders at a dollar rate of Rs 166.5.
The garment industry wants early approval of textile policy
2020-25 by ECC as it is vital for new investment and marketing
plan in this major export-oriented sector.