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2009 proved very tough for textile industry - APTMA

04
Jan '10
In the year 2009, the textile industry particularly the spinning industry of the country experienced steep losses, despite the fact that, the industry produced more than its potential, said All Pakistan Textile Mills Association (APTMA) Punjab Zone Chairman, Mr. Gohar Ejaz underlining the achievements of textile industry in unfavorable situations.

The industry, which contributes 60 percent in country's overall exports, brought in over $12 billion of revenue in the year 2008 while in 2009 it reduced to $9 billion. Mr. Ejaz attributed this fall in export to several crises happening in the country and the state of law and order.

Declaration of state of war in the country by the President and Prime Minister in the beginning of 2009 was one of the reasons for plunge in exports of textile products. Besides, security issues, power crisis, gas shortage and bank interest rates were also the factors which affected textile industry harshly, added Mr. Ejaz.

He further said, the industry faced closure of over 75 days alone in one year, which took its toll on industry's production volume. But the industry managed to deal with the situation and emerged with maximum potential.

He further informed that the textile policy was announced in the month of October, in which it had been decided that the textile sector would be supplied adequate amount of gas and electricity. But, this decision was implemented only in the month of November and from December the sector again started facing power crises for eight to 10 hours, said Mr. Ejaz.

Following China and India, the $7 billion spinning industry in the country is the third largest across the world.

Fibre2fashion News Desk - India


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