Staff Reporter
Karachi
Zubair Motiwala, Patron of SITE Association of Industry, has in a press statement, appealed the government to allow early clearance of imports consignments containing dyes & chemicals, from China. He said that Pakistan’s imports from China are of USD 12 billion and mostly comprise of dyes & chemicals which are basic raw material for textile sector–the biggest foreign exchange earning sector in Pakistan.
Motiwala said that It is a known fact that prices of raw material area increasing due to consignments stuck up at Chinese ports and other alternative suppliers such as Korea, Taiwan and India have now either stopped supplying or quoting 30 to 35 pc higher prices. Members are complaining that it is becoming difficult to continue production activities due to shortage of raw material, while prices in the local market have gone up by 50-100 pc.
“Therefore, it is feared that exports, instead of increasing with the kind of advantage, it might be the other way round as it is in common knowledge that orders are based on season to season at least for six months in advance and if this price hike continues and consignments are not timely cleared, production would suffer and industries would not be able to complete their orders on time and as per commitment”, Motiwala remarked.
