ECC decision to allow import of cotton, sugar from India welcomed


KARACHI, March 31 (online): Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Wednesday welcomed the decision of the Economic Coordination Council (ECC) to allow import of cotton and sugar from India.

The imports will help the textile industry overcome shortage while the increasing price of cotton and sugar will be stabilised, he said.

Mian Zahid Hussain said that the move will also help the value-added sector and help almost 100 textile mills start operations that were closed due to the crisis.

Talking to the business community, the veteran business leader said that the decision to import cotton from India was delayed unnecessarily which caused distortion in the market which also damaged employment and the export sector.

Imports through land route from India is the most viable option which was being ignored due to political reasons which took toll on the economy and the masses facing unprecedented inflation, he added.