ISLAMABAD - Federal Minister for Textile Industry Rana Farooq Saeed Khan said on Friday a special meeting of the Federal Cabinet would be called in the next few days to resolve the prevailing issue of yarn shortage in the country. He admitted in the Senate Standing Committee on Textile Industry that due to the massive export of yarn, its shortage has emerged in Pakistan due to which value added sector of the textile industry is affected. It is feared that many people would render their jobs and unemployment would further increase in the country due to the said crises, he added. In the special meeting of the Federal Cabinet, future strategy regarding availability of yarn in the country and its export would be devised, he told the committee. Meanwhile the members of committee showed serious concerns over the non-availability of yarn in the country even at high prices and stressed for early solution of the problem. In the meeting, the committee proposed that the Government should allow 25 percent export of the total production/existing sector of the yarn in order to settle the issue amicably. The meeting was held at Parliament House under the chairmanship of Senator Gul Mohammad Lot. The meeting discussed in details the working and performance of the Textile Industry and its attached departments. The committee appreciated the establishment of Textile City in Faisalabad, Lahore and Karachi and recommended the expeditious completion of the projects. The Committee underlined the need to reduce controversies between yarn manufacturers and other stakeholders. The committee stressed upon the ministry to take concrete steps for setting up research infrastructure in its institutes across the country. It recommended the issuance of SRO granting 5 percent rebate on the loans accorded to the textile industry and advised the ministry to keep in touch with the SBP for its timely implementation i.e. in March 2010. It was observed that necessary steps should be taken to reopen the closed spinning mills, besides providing certified cottonseeds to the farmers well before the sowing season. The committee also called for provision of energy through other available options during the two-day shutdown of gas supply. The ministry assured the committee to consider and resolve all the issues being faced by the textile industry. The Senate Committee directed the ministry to facilitate the registration process for the yarn manufacturers for development and progress of the industry.