| GEO Business|
| Textile minister ensures resolving industry problems|
| Updated at: 1943 PST, Thursday, November 19, 2009|
ISLAMABAD: Federal Minister for Textile Industry Rana Muhammad Farooq Saeed Khan said that government is committed to resolving all textile related matters on priority basis for the development of industry in the country.
Chairing a meeting, which was held to discuss emerging trends in cotton yarn markets, he said that efforts are underway to provide maximum assistance to boost textile industry.
The minister said that government is playing its role to boost textile industry adding that best efforts were being made to minimize the effects of ongoing energy crisis on textile sector.
He assured that government will take legal action against holders and those who will be involved in betting.
All issues, suggestions and ideas would be put up in Cabinet Meeting on Textile which will be held on Friday November 20.
Farooq Saeed Khan assured on this occasion that Ministry will provide full support and cooperation in this regard. The meeting observed that cotton yarn prices was increased up to 30 percent over the previous month and non-availability of yarn has become major threat for textile industry.
The meeting also discussed in details the increasing cotton prices, availability of yarn in markets and their export.
Garments industrialists expressed deep concerns over increasing price of cotton and non-availability of yarn in the local market.