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APTMA`s cotton woes

2024-06-10
THE All Pakistan Textile Mills Association (APTMA) urgently appealed for the intervention of Prime Minister Shehbaz Sharif to address a critical issue threatening the textile industry, according to a press release.

For the past three to four months, cotton imports from the US and Brazil have been blocked at the port, leading to significant financial burdens due to escalating demurrage charges, which now exceed Rs50m. These charges are being paid in dollars to foreign companies, exacerbating the economic strain on the country.

The shipments in question were dispatched under valid import permits.

However, unforeseen delays during transit have resulted in the shipments arriving after the expiry of the import permits. Despite multiple appeals and commitments from the Ministry of National Food Security and Research (MNFSR), the Ministry of Commerce, the Ministry of Interior, and other relevant authorities, the necessary release orders have not been given by the Department of Plant Protection.

The ongoing blockage of cotton shipments is causing severe disruptions, leading to escalating demurrage charges and threatening the industry`s ability to meet export targets and maintain competitiveness in the global market. •