Cotton imports from Afghanistan into Pakistan have resumed officially with the round-the-clock opening of the Torkham crossing point, Pakistani textile millers say.
With a shortfall of four million bales expected this year, Pakistani millers said they needed the vital crop to meet domestic demand.
Businessmen said contracts for 1.2 million bales had been finalized, while talks were ongoing on concluding more agreements.
Pakistan needs four million bales worth $1.5 billion to meet the textile industry’s demand. Imports from Afghanistan would help reduce the demand-supply gap.
Naseem Usman, chairman of the Karachi Cotton Brokers Association, said mills had started panic buying due to reports of losses and slow arrivals.
