LAHORE: The textile sector has threatened a countrywide protest against untimely clearance of imported cotton containers at Karachi port, warning that 7 million people will be unemployed in January.
“The textile industry will be forced to protest if the government doesn’t clear the imported cotton coming to Karachi.” All Pakistan Textile Mills Association (APTMA) Chairman Hamid Zaman said.
The textile industry would fall short of its $25 billion export goal for the current year due to a lack of raw resources, primarily raw cotton, he stated during an event hosted by the Lahore Economic Journalist Association.
“This year, textile exports will be limited to $16-17 billion,” he predicted.
The textile industry imports raw cotton and after value addition exports it at four times the imported value. Thus, the government should allow exporters to import 35% of the export value.
The APTMA chief, however, warned that if things are not controlled, seven million people associated with the industry will be unemployed in January.
“The industry was left with 60 days’ of raw materials only and if timely clearance of already arrived cotton will not start from the port, textiles will completely shut down. This will result in unemployment of 25 million people across the country,” he warned.
