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Govt to take remedial steps to boost falling textile exports

06
Jun '09
Remedial measures are being considered by the government of Pakistan to deal with the problems and issues faced by textile industry, on recommendations made by the stakeholders, to improve production and exports of the industry.

To uphold country's textile sector, the government is likely to announce a textile policy called National Textile Strategy in the middle of this month. Before finalizing the policy, the Textile Ministry has consulted all textile sector associations along with the Chamber of Commerce and Industry.

The ministry received recommendations for zero rating on import of textile machinery, zero rating exports, tariff reduction, nonstop energy supply to textile units. Along with this, issues related to market access and quality products with timely delivery and single digit mark up and special power tariff for the textile industry has also been recommended.

It has been suggested that the issues like duty-free market access to European Union and the US markets should be included in textile policy as Pakistan imports a huge amount of USA long staple cotton to the tune of $400 million to $500 million every year.

A Cabinet Committee has already been constituted by the Prime Minister, Mr. Yousuf Raza Gilani to evaluate the new textile policy as well as recommend measures to modernize the industry and make the industry more efficient.

Energy shortage in the country is the major issue which has made the textile sector to pass through a difficult phase, believe economic observers. Textile exports have experienced a decline of 9.27 percent during the July-April (2008-09) fiscal and stood at $7.898 billion against exports of $8.706 billion during the corresponding period of last fiscal.

In the same period, exports of cotton yarn fell by 15.98 percent, yarn other than cotton yarn dipped by 54.74 percent, knitwear dropped by 6.7 percent, bed wear tanked by 12.19 percent, tents, canvas and tarpaulin by 14.70 percent.

Ready made garments fell by 14.65 percent, art, silk and synthetic textile by 33.64 percent where as the exports of other textile materials declined by 15.43 percent.

Amid this decreasing trend, only two textile groups including raw cotton, cotton cloth and towels witnessed positive growth. The overseas sales of these three products witnessed an increase of 40.32, 0.75 and 3.26 percent respectively during the above said period compared to the same period of last year.

Fibre2fashion News Desk - India


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