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Pakistan lags behind in textile competitiveness: Seminar
Mar '18
Pakistan’s textile production and earning capacity is far lower as it earns $1 billion through products manufactured from a million cotton bales while Bangladesh and Vietnam earn $6 billion and $8 billion respectively, State Bank of Pakistan senior economist Asma Khalid told a recent seminar on ‘Stimulating Firm Productivity for Growth’ organised by the bank.

While Sindh led in product innovation, Punjab was ahead in skills development implementation, the seminar, whose co-organisers included the International Growth Centre (IGC), the Consortium of Development Policy Research (CDPR) and the Institute of Business Administration, was told.

Pakistan’s trade cost has remained stagnant compared to India and China’s consistently declining costs each year, said Salam Ali from IGC.

Speakers said the higher demand for garments in China has created opportunities for Pakistan to get a bigger share of the former’s import pie, according to Pakistani media reports.

Between 2013 and 2015, Pakistan’s garment exports increased by 10 per cent to the European Union compared to Bangladesh’s 13 per cent and India’s 17 per cent, indicating that Pakistan has yet not fully exploited the benefits of the generalised system of preferences plus status, CDPR’s Zara Salman said. (DS)

Fibre2Fashion News Desk – India

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