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Knitwear Garment Sector needs special support
04
Jun '08
Pakistan's textile industry ranks amongst the top in the world. Pakistan is world's fourth largest producer of cotton and the third largest consumer of the same.

Cotton based textiles contribute over 60% to the total exports, accounts for 46% of the total manufacturing and provide employment to 38% manufacturing labor force.

The availability of cheap labor and basic raw cotton as raw material for textile industry has played the principal role in the growth of the Cotton Textile Industry in Pakistan.

With the advent of the quota free global imperative for a rapidly developing country like Pakistan to further explore potential new markets both in its neighboring territories as well as distant ones.

In this context, Pakistan has signed a Free Trade agreement (FTA) with China. This FTA is predicted to bring around $5 billion increase in our trade volume with China which is going to consist mostly of textile related commodities.

Economic analysts have already dubbed this pact as the Cotton Road to China. In order to fully avail the concessions under the agreement the Government is strongly committed to further strengthening the textile sector in the country.

Pakistan's textile industry had proven its strength in global market during the last four decades. It has proved its strength even in post quota era (2005) by not only sustaining its position but also showing growth of 5% over 2005.

However the Garment Sector especially the Knitwear Garment Sector needs special support.


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