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Textile sector may fail to achieve export target

23
Jan '07
Textile industry may fail to achieve export target of US $11.5 billion for fiscal 2006-07.

According to current export statistics, textile industry may fail to achieve the set targets, Federal Secretary of Textile Masood Alam Rizvi told at certificate distribution ceremony at Knitwear Institute of Pakistan Hosiery Manufacturers Association (PHMA).

He pointed out that country has failed to prepare strategy to take advantage of quota-free market and also to solve the problem of shortage of skilled labourers.

During July-December 2006, industry witnessed decline in exports of the country. In this period, textile industry's exports stood at US $5.318 billion compared to $5.097 billion, a hike of 4.3 percent.

Lahore Garment City in Sundar Industrial Estate will start its operations by the end of January or early March this year. Moreover, 40 acres of land is allotted for Faisalabad Garments City, City District Government Karachi (CDGK) is allocated 300 acres of land and 300 acres for garments cities in Karachi.

Out of total 1,250 acres of land, 700 acres has been acquired and garment city will create 80,000 new jobs for skilled and unskilled workers.


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