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Textile exports unlikely to achieve annual target
25
Feb '08
In spite of substantial incentives and subsidies of billions of rupees, export of textile products marked a decline of 3.44 percent in the first seven months of the current fiscal year.

The total textile export for the period July-January of 2007-08 was US $6.028 billion compared to the $6.242 billion of the year preceding it.

Experts believe that the drop in both value and volume of exports was caused largely because of poor performance of the major textile and clothing sectors of the country and violence caused by the assassination of former Prime Minister, Benazir Bhutto. Following the mishap, a large number of export shipments were restricted from reaching the ports.

On the contrary, in the month of January 2008 alone, textile products recorded a remarkable 11 percent growth as compared to the same period last year. In spite of this, exporters are unlikely to achieve their set targets for the ongoing fiscal year.

While the export of bedwear, knitwear, tents, canvas and tarpulin registered negative growth of 6.21, 11.20 and 0.62 percent, respectively; while export of raw cotton, yarn, cloth, carded cotton and yarn other than cotton also declined by 12.79, 6.02, 8.26, 23.20, 19.89 percent, respectively, during July-January period of the current fiscal.

However, export of readymade garments went up by 7.2 percent during the same period as did the export of art, silk and synthetic textile which rose by 25.19 percent. Made up articles (excluding towels, bed wear) saw a similar trend rising by 19.78 percent while other textile materials hiked by 0.69 percent.

Textile products of Pakistan are facing a stiff competition in the international markets and unless high cost of production is not met with a solution, it will be difficult for the industry to keep pace with its rival countries.

The only way out, is to plunge in for research and development and adopt cost-effective technology for standing firm in the international market against China and India.

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