KARACHI - Pakistan Readymade Garments Manufacturers and Exporters Association has demanded the intervention of textile ministry to control the rising yarn prices in domestic markets which would result in delay and cancellation of exports orders. Chairman Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Mohsin Ayub Mirza said that 30 to 40 per cent increase in yarn prices and its shortage due to steep increase in its export would not only hurt this sector but also harm the inflow of incoming future exports orders. He said that the rise in yarn prices would deprive Pakistan of short-term delivery advantage, which has been our edge over other textile exporting countries. He said we are better placed to provide short-term orders to international buyers as compared to our competitors thus earning much-needed foreign exchange for the country. Textile Ministry has set a very progressive export target for the industry but we fear that we would not only fail in achieving the export target in absence of any immediate action on the yarn prices issue but it also bring industry at the verge of collapse. He said that Pakistan Readymade Garments Manufacturers and Exporters Association was not against the export of yarn but they should be taken into confidence to chalk out a strategy and mechanism of profit sharing so that neither any industry becomes sick nor country should suffer and lose its foreign exchange earning export markets. Although the situation of textile industry has improved after the introduction and implementation of textile policy but the yarn issue alone can badly hurt the value added textile sector. He urged all the stakeholders to evolve one mutually beneficial agenda and make the yarn availability possible for the value added textile sector so that all businesses continue to run smoothly.