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Textile sector shows true potential
Apr '09
In the midst of falling global export sales and profits, the Pakistan textile industry has turned around on its heels and has been able to declare handsome profits and has reported a smart growth of 23 percent in the first half of the current fiscal (2009-10).

This growth in profits has been made possible due to a substantial growth in net sales, which reflects the competitive spirit of the Pakistan textile industry. This growth has come at a time when other competitor countries are battling to sustain sales and profits alike.

The industry has also been helped in no less measure to the depreciating rupee which has fallen by 21 percent in the last three months. But the industry has also overcome odds of high interest rates, which has grown by 4 percent in the last few months.

The profits could have been much better, but for the total financial costs which have augmented by nearly 100 percent. The industry was helped by the weaving sector which delivered profits against losses registered by the spinning units.

Fibre2fashion News Desk - India

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