ISLAMABAD: Over 150 trucks laden with cotton arriving from Kazakhstan and other Central Asian nations have been stranded in Afghanistan, threatening to trigger a crisis in the local textile industry.
The Ministry of National Food Security has refused to issue permission to the trucks to enter Pakistan, and instead instructed them to seek clearance from the Karachi port.
The nation has an immediate requirement for 300,000 bales of cotton. Prime Minister Shahid Khaqan Abbasi had instructed the Economic Coordination Committee on January 5 to wave off duty on the import of cotton.
However, a notification in this regard was withheld for several days reportedly on the behest of influential cotton growers, and now the trucks are being allowed permission inside Pakistan.
Sources revealed that influential cotton hoarders have created an artificial shortage to raise the price of cotton. This can further aggravate the situation and create a crisis if the issue is not resolved within a few days.
The textile industry is responsible for seventy percent of Pakistan’s exports, and provides employment to thousands of workers. The industry witnessed increase in operational cost in 2017 due to the rising prices of gas and electricity.
In recent days over thirty textile mills have stopped production, while more than hundred mills have been forced to close in recent years. Experts said that the local textile industry was already facing immense difficulty competing in the region, and the recent cotton crisis can further worsen the situation.
Reported by Mazhar Iqbal
The post 150 cotton trucks from Central Asia stranded in Afghanistan appeared first on ARYNEWS.
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