ICMF wants ban on imports of Pak. cotton lifted

NEW DELHI, NOV. 24. The Indian Cotton Mills Federation (ICMF) has urged the Government to lift the ban on import of cotton from Pakistan and suspend exports of cotton for three to four months in view of the rising domestic prices and perceived shortage in domestic production. ``The ban on import of cotton from Pakistan imposed in the context of pests and insects noticed in Pakistan's crop may be withdrawn immediately as no pests have been reported in Pakistan's cotton in the current season," the ICMF said in a letter to the Union Ministry of Textiles here.

The Federation said exports of cotton might be suspended for a period of three-four months, so that the supply in the domestic market would not get depleted.

Cotton prices in the country have been increasing continuously from April, it said adding that in major varieties of Gujarat, Maharashtra, Madhya Pradesh and Punjab the increase in prices was between 15 and 20 per cent.

The Federation said the rising prices of cotton was threatening the survival of the mill industry which was already facing a crisis on account of increasing cost of production and declining profitability.

The ICMF said the import duty of 5.5 per cent on cotton should be withdrawn immediately as the international prices were ruling high and imports was not a viable option.Since the incidence of import duty makes the position even more difficult the import duty should be withdrawn, it said.

- PTI

Send this article to Friends by E-Mail

Section  : Business
Previous : IT enabled services offer vast job opportunities
Next     : SIMA seeks withdrawal of duty