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Textile industry in deep trouble

22
Nov '08
According to the latest report form Statistics Division, it seems that the rough period of Pakistan textile industry has continued into this financial year.

As per the official figures, export of textile products was registered under US $3.54 billion for first four months or July-October period of current fiscal.

This shows a significant drop from $3.573 billion achieved in the same period of last year.

Data shows that export performance of nearly all textile categories was weak during the four months.

While the export of cotton yarn shrunk 13.50 percent, that of other yarns dropped 37 percent as against the same period of previous year.

Export of cotton carded or combed fell 18 percent, and bed wear slid over 9 percent. Tents, canvas and tarpaulin shipments also plunged 21.19 percent, and that of readymade garments and other textile materials declined 20.25 and 16.65 percent, respectively.

Nevertheless, export of raw cotton skyrocketed 234.35 percent. Cotton cloth and towels export increased 9.25 and 31 percent, respectively. Art silk, synthetic and made-up articles as well as knitwear shipments grew by 5.44 and 4.21 percent.

Carpet sector is also in doldrums. The industry has been badly affected by global recession and the players are struggling to get Government's attention.

Associations and companies are proposing schemes and projects that will help pick up the industry. Some are even demanding incentives that will help manufacturers upgrade the product quality, so as to attract bigger orders.

Experts agree that the textile industry is actually in deep trouble with lack of liquidity and shortage of demand. They stressed that Government needs to understand the industry's problems and take aggressive steps to lift up country's chief foreign currency earner.


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