|
|
 |
| |
|
|
 |
| Top Stories >> PM urged to save textile industry from collapse |
| |
| PM urged to save textile industry from collapse |
| |
| The associations including Pakistan Textile Exporter Association, Pakistan Hosiery Manufacturers Association, All Pakistan Textile Processing Mills Association, All Pakistan Power Loom Association and All Pakistan Sizing Association observed that the industry was facing worst ever crisis following increased rates of gas, electricity, interest rate and seizure of R&D refund which has resulted in to the closure of thousands of small and large textile units. "Only two per cent large and multinational and industrial groups are utilizing captive power based on gas while remaining 98 per cent industrial units from Karachi to Khyber are utilizing gas as raw material," said the associations adding that 31 percent rise in the gas prices had destroyed the existing domestic industry in general and textile industry in particular. They maintained that textile sector was third main contributor to Pakistani exports.
The government, they said, was not paying any heed to this important sector. They pointed out that country's textile sector performance remained dismal during 2007-08 with negative growth of 2.1 percent over the same period of last year.
It is note worthy that textile exports during 2007-08 declined to $10.561 billion from $10.787 billion from 2006-07. The dwindling exports growth was seen in most of the textile sector with monthly statistics showing the exports of raw cotton declined by 31.27 percent, cotton cloth by 3.32 percent, yarn other than cotton yarn 13.18, towels by 5.44 per cent, readymade garments by 4.39 per cent, arts silk and synthetic textile 0.77 per cent, made-up article and excellent towels by 4.14 per cent other textile material by 9.33 per cent. These textile associations suggested the government to give special incentives to export-oriented units enabling them to meet international standards and compete with international competitors.
They urged the prime minister to withdraw recently increased 31 per cent gas prices besides demanding across the board disbursement of Research and Development Fund to the exporters without the discrimination between small and big ones.
Textile industry association said, growth in interest rates of the bank is closing down the entire domestic industries. During the last there years, the profits of five big banks of the country has jumped to Rs 116 billion, from Rs 6 billion and all the domestic banks are giving a very tough time to the textile industry. They said that the industry be saved from diminishing and export re-finance should be provided to the exporters as per their entitlement to survivors. |
| |
| back....... |
| |
|
|
| |
| |
| |
| |
| |
| |
|
|
Apparel units’ owners, workers protest against yarn shortage
