Ministry of Textiles had informed the National Assembly recently that the Textile Industry (Development and Promotion) Act is being formulated to prevent the mills as well as others from hoarding cotton as well as yarn.
At present, the Ministry of Textiles has no such regulation which can prevent the mills and people from hoarding cotton and yarn.
The Textile Industry Act is likely to a take a final shape within a period of two months and it is also expected to deal with the issue of hoarding.
Currently, the provincial governments of Pakistan are putting their efforts to control hoarding and speculation that are widely prevalent in cotton and yarn markets.
Fibre2fashion News Desk - India
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