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Pakistan textile industry at critical juncture - PTEA

07
Mar '12
There has been a sharp decline in textile exports from Pakistan over the past four months and the country's textile industry is at a critical juncture, according to Pakistan Textile Exporters Association (PTEA).

Rana Arif Tauseef, Chairman of PTEA, said textile industry is the backbone of Pakistan's economy, but it is enduring a critical phase, as the textile exports from the country have dipped by US$ 800 million in the last four months.

According to the PTEA chief, Government's flawed policies are driving the textile industry to a total collapse.

While trying to identify the reasons responsible for the industrial slump, textile exporters are also urging for corrective measures, but the Government has till now not taken any steps to safeguard the industry, Mr. Rana said.

Talking on the issue of power crunch, he said that though summers have started, there has been no change in gas supply of two days per week to the industries. Meanwhile, in spite of manifold rise in electricity charges, there has been no relief in power load-shedding, he added.

The PTEA chief said that fall in textile exports would extensively impact Pakistan's overall exports which might push the country towards financial insolvency.

Fibre2fashion News Desk - India


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