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Concern over fall in fabrics exports

RECORDER REPORT

FAISALABAD: Exporters have expressed grave concern over alarming decline of 32.62 percent in exports of fabrics within one month and demanded immediate measures to control the yarn prices to save further downfall in cloth export.

In a joint statement issued here on Wednesday senior vice chairman Choudhry Javed Sadiq Kahloon and Mukhtar Ahmed Sheikh, former chairman of All Pakistan Cloth Exporters Association (Apcea) said over the last two months, the prices of yarn in the market surged by Rs 65 per bundle which had correspondingly pushed up the prices of fabrics. Consequently the exports of fabrics have been dramatically declined from 141 million square meter in December, 1999, to 95 million square metre in January, 2000, showing a decrease of 32.62 percent, in just one month.

After the price hike, the cost of manufacturing the fabrics and made-ups for exports had gone up and the foreign buyers were unwilling to import Pakistani goods at such a high price.

Apcea office-bearers have further taken exception to export of yarn from the country. "By exporting yarn, we are not only depriving our own industry of much needed raw material but also strengthening our own rivals," the exporters said.

Javed Sadiq and Mukhtar Sheikh also demanded the withdrawal of export refinance facility to fine count yarn to deflate the rising of prices in local markets.