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PHMA fears knitwear to have an unproductive year
17
Jan '08
The Hosiery, which is considered to be one of the prime export sectors of Pakistan, is facing a huge challenge of fulfilling its commitments to foreign buyers.

Pakistan Hosiery Manufacturers Association (PHMA) recently stated that although knitted garments were one of the most exported items in the list procuring US $2 billion last year, the industry expects a downfall this year.

In the wake of recurrent power cuts and shortage of gas supply, it is becoming increasingly difficult to meet the export demands. So much so that the factories are being compelled to shut down leading to large scale unemployment.

Export targets are unlikely to be achieved unless supply of gas is regenerated. Even consumers of knitwear goods are having second thoughts with regard to placing orders as they fear the demands may not be met.

Experts believe that, if infrastructural facilities are improved and production capacity increased, the hosiery sector can be one of the major earners of foreign exchange currency.

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Courtesy: H&M

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