Home / Knowledge / News / Textiles / Pakistan Govt unveils first ever five year textile policy
Pakistan Govt unveils first ever five year textile policy
13
Aug '09
Mr Rana Farooq Saeed Khan
Mr Rana Farooq Saeed Khan
The Federal Textile Minister, Mr Rana Farooq Saeed Khan, announced the first ever five-year Textile Policy 2009-14 that aims at taking the country's textile exports from the existing US $10 billion to $25 billion by the year 2015.

This policy has been framed in extensive consultations with all the stakeholders, including industrialists, exporters, investors, State Bank of Pakistan and Ministries of Finance, Industries, Commerce, Agriculture, Planning and Investment.

Since, inception, textiles have been the mainstay of the Pakistan economy and exports. This sector provides livelihood to more than 10 million farming families. It also accounts for 40% of the industrial employment.

Despite the recent downturn in the global demand, textiles and garments exports accounted for more than 50 per cent of exports during the last fiscal year (2008-09) and the country is the fourth largest producer and third largest user of cotton.

Yet, Pakistan is twelfth in terms of international trade, which means much of its advantage is lost in low value added semi-manufactured exports. A variety of reasons explain the poor state of the textiles sector.

Machinery and technology has not kept pace with world standards, infrastructure has been lacking, especially power, gas and clean water, available skills are deficient and high degree of fragmentation mars efficiencies.

Uneven growth of value-chain undermines balanced development of the sector, external restrictions such as quota and restricted access provided limited opportunities and absence of a well defined policy framework created uncertainties and promoted haphazard development of the sector.

The textiles policy, while addressing the above failings, has been prepared with the over-riding objective to realize the true potential of this sector. Presently, the Pakistan textile sector is converting one bale of cotton into $1000, whereas its competitors are converting it to up to $4,000.

In the five years from 2009-14, the first textiles policy targets that this rate of conversion should be doubled from $1000 to $2000. This will require increasing the level of exports to $25 billion by the end of the policy period.

The Textiles Policy represents a new beginning for the textiles sector. Through this policy, the government has not only set out a road map for the development of this sector but has provided the necessary support without which rapid progress of this sector is not possible.

Click here to read the salient features of the first textile policy.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 23rd Feb 2017

NAFTA renegotiation puts Mexico-US jeans trade at risk

The almost imminent renegotiation of the North America Free Trade...

Rick Helfenbein (left), president and CEO of AAFA, with Juan Estrada, chief of party, Hub; Courtesy: Hub

Apparel/Garments | On 23rd Feb 2017

AAFA inks agreement for best manufacturing in East Africa

The American Apparel & Footwear Association (AAFA) has entered into a ...

Mango vice-chairman and member of the board of directors Daniel Lopez (L) with Ananth Narayanan, CEO, Myntra & Jabong. Courtesy: Myntra

Apparel/Garments | On 23rd Feb 2017

Mango awards distribution & management rights to Myntra

Mango, the Spanish fast fashion brand, has awarded its master...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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