Jan '12
He said unprecedented energy shortage was prime reason behind the substantial drop in exports.
According to him, the situation may be alarming further in the month of January, as the textile industry in Punjab is denied electricity and gas supplies since December 25 till date.
He said the textile exports were 40% down in December 2011 in quantity terms. In November 2011, textile exports were also 32% down in quantity terms, he added.
It may be noted that exports of cotton yarn, cotton cloth, yarn other than cotton yarn, knitwear, bed wear and towel are declined by 23%, 26%, 44%, 38%, 33% and 8% respectively in the month of December 2011, causing a loss of $305 million loss to the exports.
Chairman APTMA said traditionally the textile industry was crossing $1 billion mark exports monthly but it is becoming impossible since last three months
He said the APTMA is repeatedly showing concerns over the situation, but unfortunately all of its hue and cry was falling on deaf ears of the policy makers. He deplored that the government was not addressing the reasons behind the drop in exports.
Mohsin said the government policymakers were not serious in resolving gas supply issue of the textile industry. Instead, he lamented that the available gas is being supplied to the unproductive sectors and segments, causing a loss in terms of foreign exchange.
He said the situation is becoming unbearable for industry and a constant inefficiency was plaguing the viability of production units. The textile industry is heading towards disaster due to non-availability of energy, he added.
He said the textile industry has lost $1 billion exports in first half of current fiscal and is likely to lose another $2 billion in second half of it. This drop on exports would have dire impact on economy with already under pressure current account balance and Pak rupee value.
He said the industry was committed to achieve $16 billion exports during current fiscal it would not be able to achieve more than $12 billion exports if energy crisis persists.
Mohsin further said the interest rate is also highly unaffordable, causing negative impact on industry.
He said the textile industry is a premier industry of Pakistan earning foreign exchange and providing jobs to millions of workers.
Chairman APTMA had urged the President and Prime Minister to take stock of the situation and ensure smooth supply of electricity and gas to textile industry immediately to avoid further loss of exports.
All Pakistan Textile Mills Association (APTMA)
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