KARACHI: The millers, spinning and private sector commercial companies imported around 4.8 million cotton bales from USA, India, Brazil and central Asian countries during the last fiscal July-June 2007, the traders and importers said on Saturday.The country produced around 12.5 million cotton bales during July-June 2007 while the demand by textile sector stood around 15.5 million bales. The shortfall was met by the imports.
Keeping the past experience, the economic managers of the country on repeated calls by the Ministry of Textile Industry (MINTEX) and local textile industry allowed import of cotton through land route from neighbouring countries including India to reduce the cost of production and cost of import. With the issuance of notification the actual imports would take place and much cheaper cotton would be available to the industry for its consumption.
Ministry of Commerce (MoC) in May 2007 allows import of long staple cotton through land route from India and Uzbekistan. The import of long staple cotton through land route from India would reduce the cost of import and would help local textile industry to enhance its production and its value addition for increase in textile exports
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