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Disney may remove Pakistan from sourcing list: Official
30
Dec '13
A US firm is preparing a strategy to remove Pakistan from the list of permitted sourcing countries (PSC), Munir Qureshi, Overseas Pakistanis and Human Resource Development Secretary said while speaking to members of the Pakistan Textile Exporters Association (PTEA), according to a report published in The Express Tribune.
 
Mr. Qureshi said the strategy is being prepared by Walt Disney Company in consultation with stakeholders to address concerns of the US companies, while Pakistan was trying to get its Worldwide Governance Index (WGI) ranking upgraded by next year.
 
He said the elimination of Pakistan from the PSC list would lead to huge loss as the US is a major export destination for Pakistan.
 
Disney brand products are manufactured by independent vendors at thousands of production facilities across the world.
 
The Walt Disney Company has made some changes in its sourcing guidelines to meet the challenges associated with a complex global supply chain, as part of an ongoing review of its policies and procedures.
 
PTEA chairman Sheikh Ilyas Mahmood said the revision in Disney’s policies would affect Pakistan’s textile exports, especially if other major US retailers decide to follow suit.
 
In the first five months of the current fiscal year 2013-14, exports of textiles and apparel from Pakistan grew by 6.02 percent to US$ 5.684 billion compared to exports of US$ 5.361 billion made during the corresponding period last year, as per the data from the Pakistan Bureau of Statistics.
 
During last fiscal year which ended on June 30, 2013, textile and clothing exports from Pakistan increased by 5.9 percent to US$ 13.06 billion from US$ 12.34 billion in 2011-12.
 

Fibre2fashion News Desk - India


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