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Yarn shortage may lead to missed targets

06
Apr '10
Following yarn shortage, increasing electricity and gas tariff and unscheduled load shedding, the textile export target of US $10.5 billion for 2009-10, is likely to be missed by $1.5 billion. As for apparels exports, the estimated target of $3.8 billion will touch only $3 billion, noting a loss of $0.8 billion.

Similarly other value-added sectors including fabrics, home textiles, towels and the like was targeted at $5.2 billion but will reach only $4.2 billion. Other raw materials associated with the cotton textile sector, had an estimated export target of $1.5 billion.

According to sources, shortage and high prices of yarn in the local market, clubbed with increase in electricity and gas prices, will make it difficult to reach the set target.

According to Chairman, Pakistan Cotton Fashion Apparel Manufacturers and Exporters Association, Dr Shahzad Arshad, “Initially the overall export target was $22 billion, which was later reduced to $18 billion, to which; the textile sector contributes more than 60 percent.”

Since Pakistan missed the apparel export target for Christmas, Dr Arshad pointed that if steps were not taken to ensure availability of raw material, then the chances of a further shortfall, in meeting the apparel export target, was high.

Around all this, the value-added garments sector, including home made textile, towels, bedwear and fabrics was expecting orders of about $4 billion for spring 2010, as compared to orders of about $3 billion last year.

However, exporters have been unable to meet the expectations due to shortage of raw material and rampant increase in gas and electricity prices.

Fibre2Fashion News Desk - India


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