Home / Knowledge / News / Textiles / APTMA chalks out long-term textile sector growth plan
APTMA chalks out long-term textile sector growth plan
12
Dec '13
In view of benefits expected to flow from the attainment of the Generalized System of Preference (GSP) Plus status from the European Union (EU), and strong positive trends in international market, the textile sector of Pakistan has chalked out a long-term growth plan for the sector, said All Pakistan Textile Mills Association (APTMA) central chairman Yasin Siddique while briefing media during a press conference in Lahore.
 
The plan dubbed as the ‘Vision’, aims at boosting the sector’s exports from the current US$ 13 billion level to US$ 26 billion over next three to five years and then further boosts it to US$ 40 billion over next 10 years, thereby ensuring a surplus trade balance for the national economy.
 
Mr. Siddique said a high duty levy of around 23 percent on its exports to Europe, has not allowed the Pakistani textile sector to significantly increase its exports to the European market over the past few years, but now it shall ease as Pakistan will earn the zero-duty access for textile exports to EU markets, like other competing countries, which already enjoy tax-free access.
 
However, the APTMA official noted that it would not be possible to attain textile export growth unless the industry is facilitated with uninterrupted and satisfactory power and gas supply, to allow the textile units to operate round the clock. 
 
APTMA international trade committee head Aamir Fayyaz Shaikh said Pakistani textile industry has a good potential for export growth and employment generation, however it seeks an equal level playing field with other competing countries to give out its best.
 
APTMA Punjab chairman SM Tanveer voiced optimism that they would convince Punjab Chief Minister and Petroleum Minister to provide at least 100 mmcfd gas to textile industries.
 
The APTMA management has decided to present the plan to Prime Minister Nawaz Sharif, who is expected to remain present during the APTMA annual dinner at Governor House in Lahore on December 14, 2013.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 31st Aug 2016

SGGS & DKTE ink MoU on sharing academic knowledge

Nanded based Shri Guru Gobind Singhji Institute of Engineering and...

Textiles | On 31st Aug 2016

‘Pak textile sector has great ability to create employment’

Pervaiz Rashid, the Pakistan minister for information and...

Textiles | On 30th Aug 2016

Maharashtra, Telangana ratify GST Bill; tally 11

The state legislative assemblies of Maharashtra and Telangana today...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

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

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
August 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search