NEW DELHI, Sept 28 (Commoditiescontrol) - The All Pakistan Textile Mills Association (APTMA) has revealed in a statement that it has not requested the Government to lift the ban on the import of Indian cotton.
“In line with our national aspirations, the trade agreements with all the neighbors must be based on equal footing. We do not endorse any news circulating in the electronic or print media, attributed to APTMA,” the statement said.
The horrendous floods that hit many areas of Pakistan back in August 2022, affecting 33 million people and an estimated cost of more than $25 billion of infrastructural damage and losses– floods have also affected the Cotton crop.
Despite the damage to the Cotton crop, pre-flood estimates of Cotton production were to exceed 9 million bales, whereas the in the present situation 6 million bales after an estimated loss of 3 million bales are to be expected. The additional Cotton requirements will be sourced from countries that have a surplus due to the global recession – Turkey is one example of the biggest cotton importer, currently exporting instead.
(By Commoditiescontrol Bureau)
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