Published On: Sat, Apr 3rd, 2021
Published in Category: Karachi

Ban on Indian cotton imports criticised

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KARACHI: Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said Cabinet’s decision to turndown Economic Coordination Council’s move to allow the import of cotton and cotton yarn from India through land and sea routes has created uncertainty in the largest export earning sector of textiles.

The decision has attracted criticism from Industrial sector and raised questions about the future of textile industry and the flawed decision-making process of the government, he said.

Mian Zahid Hussain said that the development suggests that top government functionaries are not on the same page regarding issues of paramount importance.

Talking to the business community, the veteran business leader said that the suggestion of Commerce Advisor Abdul Razzaq Dawood and textile sector to allow the import of cotton and yarn from India was according to the ground realities and national interests.

The latest development will support the stance of economic experts and opposition that government lacks ability and the will to reform the economy and their decision will encourage profiteers to increase prices which will contribute to the closure of many mills.