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Govt's claim of 20% rise in textile exports under suspicion

29
Nov '10
The knitwear and sweater sector has expressed its doubts regarding the Pakistani government's claims about the 20 percent rise in the country's textile exports. The Government of Pakistan had claimed that during the July-October quarter of this year, the textile exports of the country had registered an increase of 20 percent as against the previous quarter.

Price of yarn was Rs 80 per pound during the previous year, whereas it has increased to Rs 180 per pound during this year's July-October quarter. The country's overall export is one billion per month. During the previous year, the payment for yarn exports had been $100 million. The country had exported cotton worth $50 million whereas the value-added textile export constituted the remaining $850 million.

This year, the rate of unemployment has mounted to 30 percent as a result of the high yarn prices. In addition to this, the yarn prices have not become stable since the past three months, which has led to heavy losses in the textile sector. Yarn prices are also very high. Under such circumstances, cotton and yarn exports are likely to remain low.

India, on the other hand, had implemented a strategy to administer and extend support to its textile industry. It had exported about 10 million bales of cotton last year and after the implementation of the ceiling limit on cotton exports, it had fixed an export target of five million bales for this year. India had also prohibited its cotton export from March to October, 2010. After October 2010, India had permitted only the authorized and licensed traders to export cotton.


Fibre2fashion News Desk-India


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