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Pakistan's textile machinery imports plummet in March

23
Apr '12
Unprecedented drop in textile exports and production resulting from severe power shortage and other factors has caused Pakistan's textile machinery imports to plummet by 59 percent year-on-year during March 2012.

Pakistan's textile machinery imports dipped from March 2011's US$ 47.120 million to US$ 19.391 million in March this year, which is a fall of US$ 27.729 million.

On a month-on-month basis, depicting a fall of 56.25 percent, imports dipped by US$ 25.887 million from February 2012's US$ 45.278 million.

Indicative of a fall of 11.53 percent or US$ 41.192 million, textile machinery imports by Pakistan during the first three quarters of the current fiscal dropped to US$ 316.041 million, compared to imports of US$ 357.233 million achieved during the corresponding period of last year.

According to experts, several investors have started shifting their functional machinery set ups to Bangladesh or other countries where there is more favourable business environment and reliable energy sources.

Experts believe that the trend would continue, if the situation does not improve in near future.

Fibre2fashion News Desk - India


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