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Textile relief package not the solution, claim experts

30
Jan '07
Textile industry is anxiously awaiting Government's approval for the relief package that will help them reduce production cost and remain competitive in the global market.

However, industry experts believe that the sector was in need of a major makeover and no Government package can be depended upon as a complete remedy.

Unfounded investments are major source of problems. Instead, value adding sectors of knitwear and garments should be concentrated on. These sectors should be developed by funding for advanced technology and equipments.

Experts point out that low value added fabrics and yarns should be consumed by the domestic industry to produce high-quality apparels and knitwear.

Statistics show that during the 2005-2006 period Pakistan registered a growth of over 13.9 percent in textile exports, reaching US $10.049 billion.

Country targets to increase its exports to $15 billion by 2010. This is a small amount as compared to its competitor India, who aims to touch atleast $50 billion mark, by then.

Textile machinery imports reached $4 billion from 1999-2000 to July-October 2006. Almost all the investment was made in spinning, weaving or dyeing finishing sectors.

Pakistan needs to raise its machinery and advanced technology imports for knitwear and garment sectors so as to increase output of quality products.


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