KARACHI: The All Pakistan Textile Mills Association (APTMA) has strongly rejected the government’s plan, if any, to import cotton yarn from India. In a statement issued on Friday, Asif Inam, Chairman of APTMA Sindh and Balochistan chapters, expressed deep concern on the drastic decline in the price of fine counts of yarn by Rs10,000 per bag in the Faisalabad Yarn Market. “This is due to expected tax evasion plan by individuals in anticipation of permission for cotton yarn import from India through Wagah Border.”Asif Inam said that the industry has procured cotton at very high prices and that they are not in a position to sustain further losses. He said that about 90pc of yarn produced in the country is available for the domestic market and there is no shortage of yarn in the country. He urged the government not to allow import of cotton yarn from India, as India has imposed restriction on import of all Pakistani products.

Source: Pakistan Today March 05, 2021 16:41 UTC