Home / Knowledge / News / Textiles / Pakistan Govt unveils first ever five year textile policy
Pakistan Govt unveils first ever five year textile policy
13
Aug '09
Mr Rana Farooq Saeed Khan
Mr Rana Farooq Saeed Khan
The Federal Textile Minister, Mr Rana Farooq Saeed Khan, announced the first ever five-year Textile Policy 2009-14 that aims at taking the country's textile exports from the existing US $10 billion to $25 billion by the year 2015.

This policy has been framed in extensive consultations with all the stakeholders, including industrialists, exporters, investors, State Bank of Pakistan and Ministries of Finance, Industries, Commerce, Agriculture, Planning and Investment.

Since, inception, textiles have been the mainstay of the Pakistan economy and exports. This sector provides livelihood to more than 10 million farming families. It also accounts for 40% of the industrial employment.

Despite the recent downturn in the global demand, textiles and garments exports accounted for more than 50 per cent of exports during the last fiscal year (2008-09) and the country is the fourth largest producer and third largest user of cotton.

Yet, Pakistan is twelfth in terms of international trade, which means much of its advantage is lost in low value added semi-manufactured exports. A variety of reasons explain the poor state of the textiles sector.

Machinery and technology has not kept pace with world standards, infrastructure has been lacking, especially power, gas and clean water, available skills are deficient and high degree of fragmentation mars efficiencies.

Uneven growth of value-chain undermines balanced development of the sector, external restrictions such as quota and restricted access provided limited opportunities and absence of a well defined policy framework created uncertainties and promoted haphazard development of the sector.

The textiles policy, while addressing the above failings, has been prepared with the over-riding objective to realize the true potential of this sector. Presently, the Pakistan textile sector is converting one bale of cotton into $1000, whereas its competitors are converting it to up to $4,000.

In the five years from 2009-14, the first textiles policy targets that this rate of conversion should be doubled from $1000 to $2000. This will require increasing the level of exports to $25 billion by the end of the policy period.

The Textiles Policy represents a new beginning for the textiles sector. Through this policy, the government has not only set out a road map for the development of this sector but has provided the necessary support without which rapid progress of this sector is not possible.

Click here to read the salient features of the first textile policy.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Jens Mahnke from Pexels

Textiles | On 22nd Oct 2018

India levies anti-dumping duty on flax yarn from China

The ministry of finance, Government of India, has imposed definitive...

US polyester yarn makers allege dumping from China, India

Textiles | On 22nd Oct 2018

US polyester yarn makers allege dumping from China, India

Two major US synthetic yarn producers—Unifi Manufacturing, Inc...

Courtesy: Donear

Textiles | On 22nd Oct 2018

Aspiring middle class shaping menswear fabric trend

The key trends shaping menswear fabric include a new middle class and ...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

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

Top executives, Textile industry

Top executives
Textile industry

The foremost issue is bridging the skill gap

Spokesperson, Hugo Boss

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Harssh Chheda,

Harssh Chheda

Mumbai-based Corporate Collars provides bespoke tailoring services for...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Alfonso Marra, Klopman

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

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


October 2018

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

news category


Related Categories:

Advanced Search