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Jute industry helps exports to creep

02
Mar '07
In Fiscal year 2006-07, export revenue is increasing rapidly mainly due to positive performance by jute products.

Major reason behind the increase in demand of jute is due to political uncertainty in Bangladesh and strike in Calcutta.

Last fiscal year, exports saw a sharp decline of more than PKR750 million compared to PKR950 million in 2004-05.

According to experts, lack of Government support is reducing the viability of jute units in the country.

Most of the jute market has been replaced by synthetic substitutes. Moreover, Government has also introduced 30 percent hike in minimum wages of workers without any link to productivity.

Even imports of jute machinery and spare parts are also decreasing from India and same products are purchased from China and UK at a higher price.

In spite of all these problems, jute products generated revenue of more than PKR4 billion to Gross Domestic Products.

At present, jute industry employs more than 20,000 workers.


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