Home / Knowledge / News / Apparel/Garments / PRGMEA voices concern over declining garment exports
PRGMEA voices concern over declining garment exports
27
Dec '11
The Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has voiced serious concern over the declining trend in the country's garments exports.

In the initial five months of financial year that began in July this year, garment exports from Pakistan declined by 9 percent year-on-year, and if the same trend persists, it may result in a decline of nearly 17-20 percent by the end of the fiscal year, Mr. Bilal Mulla, acting President of PRGMEA said.

Mr. Mulla cited energy shortages and high cost of finance, among the reasons that led to the decline in exports of garments.

He explained that the factories fail to execute orders on time owing to shortage of gas and power, which lead to a dip in productivity levels, making the country's garment exporters unable to compete with their counterparts from Bangladesh, China or India.

The high cost of finance also makes it difficult for exporters to seek loans from banks for their working capital needs, he said.

As a result of high borrowing cost, entrepreneurs avoid taking big orders as executing them would require a similarly high amount of working capital, he revealed.

He said there is no substantial reason for the State Bank of Pakistan (SBP) to maintain interest rates at higher levels. Such a policy harms the corporate sector as it deters the entrepreneurs from approaching banks for their capital requirements, the PRGMEA official added.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 2nd Dec 2016

Indian currency crisis impacts global cotton market

The currency crisis in India, marked by insufficient supply of new...

Huang Wei from Fiber Raw Material Dept of Sinopec Chemical Commercial Holding speaking at the Forum

Textiles | On 2nd Dec 2016

Huge potential for nylon consumption: Experts

There is huge potential for increase in nylon consumption said...

Apparel/Garments | On 2nd Dec 2016

Aditya Birla Group to establish apparel unit in Odisha

Aditya Birla Retail and Fashion Ltd. (ABFRL) is establishing a new...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search