Floods Hit Cotton Production Area &Nbsp; Pakistan Spinning Industry Suffered Heavy Losses

A major flood in Pakistan, especially the cotton planting belt, has seriously disrupted the plan for the full opening of the spinning industry. Due to the government's levy of export tax on cotton yarn for several months, the starting rate of the spinning industry has dropped to a historical low.

The textile industry is facing enormous pressure to restrict the export of cotton yarn to meet the needs of downstream industries through the export quota and subsequent adjustment tax.

Although the spinning industry pointed out that the export quota and regulatory tax of cotton yarn were unfair decisions, they still accepted the spirit of the government's documents.

No matter how large the losses caused by the adjustment tax are, if spinning mills can get cotton in time, they may make up for the loss.

However, the cotton belt has been flooded, cotton has been washed away, and cotton pportation from cotton fields to cotton ginning plants has been interrupted.

The representative of the Pakistan Textile Mills Association (APTMA) said that the cotton mill did not import cotton. At that time, no one was sure about the trend of the cotton yarn. After Prohibiting the export of cotton yarn, they could only sell cotton yarns at home at low prices.

There is no cotton stock in the spinning mill, and the flood has worsened the situation in the spinning mill.

Said the spinning mill.