Home / Knowledge / News / Textiles / Reduce imports & lift exports, advice experts to SMEs
Reduce imports & lift exports, advice experts to SMEs
03
Nov '08
The textile industry of Pakistan has been facing increasing problems due to international financial crunch, internal inflation and inadequate power supply, causing serious damage to the industry. Experts believe that if aggressive steps are not taken soon to remedy the situation, industry will be ruined.

In an effort to help avoid this catastrophe, Union of Small and Medium Enterprises (UNISAME) has provided some valuable advice to the SMEs.

The Union said that this is the perfect time to set up import substitution and export oriented industries as imports have become very costly and exports will fetch more rupees, considering the difference between Dollar and Rupee values.

President Zulfikar Thaver of UNISAME sent an urgent request to the Small and Medium Enterprises Development Authority (SMEDA), urging the authority to prepare a list of imported items which can be manufactured in Pakistan.

He said that assistance from Engineering Development Board (EDB), Pakistan Council of Scientific and Industrial Research (PCSIR) and foreign collaborations can also be arranged for this purpose.

President further stressed that many chemicals, footwear, apparel and related products are being imported from various countries, but can be manufactured in Pakistan if proper technical guidance is made available to the manufacturers.

He assured the businesses that most of the banks are on sound footings and are capable of aiding the companies financially. State Bank of Pakistan (SBP) will also back them completely.

Reportedly, banks are opting to fund SMEs as they are easier to handle and is yet a large and profitable sector.

Finally, he encouraged the SMEs to revamp their manufacturing processes and administration and accept this challenge, which will definitely open doors to a brighter future.

Must ReadView All

Apparel/Garments | On 21st Feb 2017

Max Fashion targets revenue of Rs 5,000 cr by fiscal 2021

Apparel retailer Max Fashion is mulling to double its turnover to Rs...

Textiles | On 20th Feb 2017

UK textile & apparel exports up 7.05% in 2016: UKFT

The exports of apparel and textiles from the UK have increased by...

Textiles | On 20th Feb 2017

Himatsingka Seide incorporates subsidiary in Europe

Himatsingka Seide Ltd, one of the largest producers of home textiles...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search