Pakistans mills suffer cotton crisis

Pakistan's mills suffer cotton crisis

Pakistan could see the closure of 70% of its spinning plants by the end of May due to a cotton shortage, according to the chairman of the All Pakistan Textile Mills Association (APTMA) Punjab, Gohar Ejaz.

The chairman said only 30% of the plants were covered with 90 days' worth of cotton stock, with 70% of plants carrying 30 days of stocks. The member mills of APTMA have already started reporting closures.

Gohar blamed the Ministry of Textile Industry for the cotton shortage in the country, which has reached to 4m bales of 170 kg. The textile industry is unable to import cotton from international markets due to soaring prices.

He urged the ministry to resolve amicably the ongoing crisis in Pakistan's textile industry by taking a holistic view of the situation in the larger economic interest of the country.