The All Pakistan Textile Mills Association (APTMA) has expressed displeasure over the National Assembly Standing Committee's recommendation to the Government to direct the Trading Corporation of Pakistan (TCP) to start buying cotton from farmers at Government prescribed rates.
The purchase of cotton by TCP as a second player would result in increase in the cost of production of textile items meant for export. It would, in turn, make it difficult for the country's textile sector to compete in global markets, APTMA said.
The APTMA is concerned regarding sluggish economic indicators, especially the rising trade deficit and declining exports, Yasin Siddik of APTMA said.
The value added textile sector will be hit by higher price of cotton, he added.
Fibre2fashion News Desk - India
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