The leaders of textile sector have emphasised the need to find possible solution to save Pakistani textiles facing multiple crises like energy security, non-availability of yarn and unhealthy competition in international export market.

Dr Khurram Tariq, former Central Chairman, Pakistan Hosiery Manufacturers Association (PHMA) demanded for encouraging local sales and discourage export of yarn without effecting profitability of the spinners in the best interest of the future of textiles industry.

He proposed that regulatory duty on yarn exports should be distributed amongst spinners through their association. Advocating his proposal he pointed out that this step would bring more foreign exchange by value-added yarn consuming textile industry, on one hand, while saving Industrial Capital plus investment of billions of rupees including future of whole Textile Sector.

Furthermore this exercise will increase efficiency and profitability of spinners on permanent basis, and will develop an automatic price adjustment mechanism, which will create win-win atmosphere for all the stakeholders. He explained that this proposed step will not put any financial burden on government and spinners will devise basis for distribution of funds, which could be on the basis of local sales and there will be no complaints for the government.