Home / Knowledge / News / Textiles / Only good government policies can help revive textile sector
Only good government policies can help revive textile sector
01
May '09
The Pakistan textile and garment industry went through the best period of its history in the 80's, 90's and the first half of 2000. But a host of crisis like gas and electricity shortages, rising financial costs and now the global economic recession has crippled the sector.

Value of exports in the period July-January of the current fiscal year have fallen by nearly 6 percent, but it is only the resilience and survival instinct of the textile industry that has stood it in good stead, otherwise export figures could have been far more worse.

The Pakistani Government has been talking about a new textile policy which will address all relevant issues, but it is still to see the light of the day and now the release of the new policy paper has been postponed to June 2009.

Pakistan is considered a major raw cotton producer in the country, but cotton production in the country has been stagnant at 12 million bales (1 bale=170 kg) since the last few years, while consumption of cotton has increased considerably in the same period.

Exports of cotton yarn in the period July-January fell by a considerable 15 percent, that of woven garments by 12 percent, bed-linen by 10 percent and knitted garments by 3 percent. The only saving grace was exports of cotton fabrics and towels which registered positive growth.

Even before the recessionary trends unfolded, the sector was plagued by massive and unscheduled electric power cuts which led to huge production losses. To make it worse, supply of gas also fell short of the demands of the industry.

The sector was also bearing very high financial costs in the form of lofty interest rates and also high mark-ups. It also faced labour unrest in 2008. If all this was not enough came along the global recessionary trends to break the back of the sector.

The government though also has done its bit. It has been paying a R&D subsidy, though payments have stopped coming in since July 2008. The apex bank also financed imports of machinery at concessional terms.

But is this enough! Is a question asked by most experts, for a sector which contributes nearly 60 percent to overall exports revenues and is also the highest employment generator by providing direct and indirect employment to around 2.5 million people?

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Trinity Kubassek from Pexels

Textiles | On 19th Aug 2018

Australian wool production to fall 5.7% in 2018-19

Shorn wool production in Australia is likely to fall by 5.7 per cent...

Courtesy: Next Level Apparel

Apparel/Garments | On 19th Aug 2018

Blue Point Capital recapitalises Next Level Apparel

Blue Point Capital Partners has recapitalised Next Level Apparel, a...

Retailers approaching 100% inventory accuracy: Study

Apparel/Garments | On 19th Aug 2018

Retailers approaching 100% inventory accuracy: Study

With computer vision use cases maturing, Artificial Intelligence (AI) ...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Top executives
Textile industry

It will take some time for the people to change their buying choices

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search