Page 21 - TEXtalks. May-June 2023

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First-ever compliance centre

launched in Pakistan

Ministry of Commerce to launch the first-ever National Compliance Centre (NCC) to facilitate the
exporters, helping them promote their business, besides improving export opportunities. Hailing the federal
commerce minister Naveed Qamar and Commerce Secretary Sualeh Ahmad Faruqi to open the NCC, he
said that it is a right step in the right direction, as it was one of the major demands of the exporters to
provide them such facility under a one window solution with the sole objective of ensuring international
compliance requirements and facilitate the exporters and certification agencies through information sharing
and capacity building.

The NCC would have a federal-level office with provincial secretariats to ensure coordination at the national
level. It will have an organizational structure consisting of eight compliance clusters, and additional clusters
may be established in the future as needed. NCC will assist small and medium-sized enterprises in
developing business strategies for the adoption of international compliance requirements and facilitate
access to international certifying bodies for them.

The role of the export-oriented sector is vital in the country’s economic growth and the government has
accorded top priority to this sector taking necessary steps and measures to enhance its export efficiency,
including the development of the National Compliance Centre.

The yarn market in India

is under stress due to

slower exports

North Indian spinners are under severe stress as the weavers have reduced the purchase of yarn. This has
resulted in a decline in yarn rates from INR2-4 per kg.

Weavers’ uptake of yarn has declined due to lower export demand and experts see no signs of improvement.
Spinning mills many times in the past partially halted cotton yarn production to prevent stock accumulation
and are considering doing so even now. As a result, Ludhiana and Delhi markets faced payment issues and
declining demand, while Panipat’s recycled yarn market remained under stress. The recycled
PC yarn prices remained stable.

In Delhi yarn prices declined by INR2-4 due to weak demand and spinners are contemplating closing mills for
a few days. They cannot shift to polyester because the demand for manmade yarn is also weak. There was
also a decline in yarn prices in the Ludhiana market with cotton yarn trading INR2-3 per kg lower than
previous prices. Players in the entire textile value chain were not optimistic about the
immediate revival of demand.

May/June 2023