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Subsidies prove to be bane of textile industry

09
Apr '08
Experts for long have been against government subsidies being provided to the textile sector at large. They opine that subsidies are leading to inefficiencies and stagnation and do not incentivise industry to look at new avenues for growth.

Other textile countries like Germany, Switzerland etc are making rapid strides in emerging field of technical textiles to ensure growth. They also point out that future of textile industry lies in technical textiles, as it encompasses segments like non-woven, medical textiles, smart textiles etc.

The local industry has the latest machinery comparable with what the developed countries of the world possess, but they are reduced to producing low cost fabrics without any value addition being done.

Experts the world over have suggested that road to progress lies in value addition. But unfortunately Pakistan industry is content with what ever they have been manufacturing since decades.

The road to progress they say lies in brand building, upgrading technology, intensive training to workers & making use of resources in the best available manner.

The experts have warned industry to not rely on subsidies as the government may not be able to continue the same for long as there may be many other areas starved of funds and the said money are used for better purposes.

fibre2fashion News Desk - India


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