Govt must save textile exports: PTEA

LAHORE: The Pakistan Textile Exporters Association (PTEA) on Wednesday urged the federal government to save textile exports from consistent decline, both in terms of value and quantity.

PTEA Chairman Sohail Pasha and Vice-Chairman Rizwan Riaz Saigal, in a joint statement said that achieving targets to double textile exports appeared to be a herculean task in the perspective of 5.91 per cent drop in textile exports in May over the same month of previous fiscal year.

Giving details, they said that Pakistan exported textile goods worth $1.12 billion in May against exports of $1.19bn in the same month of last year which showed decline of 5.88pc.

Know more: Non-textile exports dive in July-May

Textile exports were also down by 1.70pc in comparison with July-May period of previous year, they added. Export of value-added items witnessed negative growth, cotton cloth down by 15.70pc, knitwear 11.32pc, bedwear 9.80pc and towels 9.23pc.

Published in Dawn, June 25th, 2015

On a mobile phone? Get the Dawn Mobile App: Apple Store | Google Play

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Bill to recover Rs2.7tr held up in tax litigation

Karachi’s business leaders ask PM Shehbaz to forge trade ties with India, reconcile with Imran

T-bills more attractive bet than equities

Turnitin hosts academic roundtable on ‘The Synergy of AI and assessment’ in Islamabad

On DawnNews

مردہ بھانجی کو تھامے فلسطینی خاتون کی تصویر نے ورلڈ پریس فوٹو ایوارڈ جیت لیا

سہیل احمد کے الزامات اور تنقید پر آفتاب اقبال کا ردعمل سامنے آگیا

مریم نواز 500 سے 800 روپے والا لان کا جوڑا پہنتی ہیں، عظمیٰ بخاری کا دعویٰ

Dawn News English

Top News Stories: Leaders Of 18 Nations Call On Hamas To Release Hostages

What Does Intellectual Property Rights Mean?

Israel’s War On Gaza In Numbers

Pakistan Misses Foreign Loan Targets

“This Election Needs An Election Audit More Than Any Election Ever”

Top News Stories: Israel Says ‘Moving Ahead’ With Rafah Operation In Gaza

Explained: Why Are Students Protesting?

NYT Memo Censoring Gaza Conflict: All You Need To Know

Comments (9) Closed

Khwaja

Jun 25, 2015 10:38am

They did not mention the reasons. To me, the number one reason is consistent power outages (Load-shading). Number two reason must be international competitiveness due to more taxes on the raw inputs due to heavy taxes. The third reason will be, in my humble opinion (joking), the D-Choak Dharna lead by PTI.

Recommend 0

Mahbub

Jun 25, 2015 11:20am

@Khwaja Hello dear we (Bangladeshi ) have no raw cotton and no textile dye & chemical factories . we import cotton and dyes also. We buy gas & electricity ( rental power plants ran by oil ) in very high price . Despite that our textile sector are growing fast. Because we consume all our fabrics for RMG in which sector we are the second largest in the world. The entire industry is lead by a group of sincere and hard working entrepreneurs most of them have come from educated middle class families. Subsidy creates distortions .so don't rely only on govt.

Recommend 0

Muhammad Tahir Jamali

Jun 25, 2015 11:39am

No specific reasons given for decline in export, nor any remedial proposal by Textile exporters. Always crying for help only. Or under the table asking to devalue the Pak Rupee, which is a stupid proposal. For one small segment of economy, you can not sacrifice the poor man economy. The overseas Pakistanis the hard earners of valuable Foreign Currency and sending most of their earnings to homeland are more eligible for any concessions than these socalled exporters, who do not bring their earnings back home for years. It is shameful attitude on part of exporters.

Recommend 0

zak

Jun 25, 2015 12:13pm

Give subsidies of 100$bn and export textiles of 500bn by 2016 and make pakistan a hub. Problem solved.

Recommend 0

Kamal Pasha

Jun 25, 2015 12:29pm

Until and unless, the politically appointees are not removed from the government and experience people are not appointed, the country cannot progress.

Recommend 0

raju

Jun 25, 2015 12:37pm

@zak 100 billion dollar..???? what is reserve...??

Recommend 0

ashar

Jun 25, 2015 03:06pm

How unfortunate that the Textile City Karachi project is still incomplete since 2006, despite the land has been developed in Port Qassim Authority with infrastructure ready for construction of Industries.

Recommend 0

Amir

Jun 25, 2015 06:20pm

@Mahbub . You are probably unaware that a major reason for Bangladesh's massive growth in textile manufacturing and exports is the 'duty free' access your textile and other products has to numerous western countries. Also your wages are probably HALF of the wages earned by our workers. I also wonder if 'compliance' requirements are as stringently applied to BD factories by western importers as they are to Pakistani factories. I am sure that if they had been the Rana Plaza tragedy would not have occurred.

Recommend 0

Woz Ahmed

Jun 26, 2015 12:31am

@Amir I can't comment on 'compliance standards' between Pakistan and Bangladesh, but no doubt Bangladesh is under the spot Gift, would be surprised if our monitored standards would be higher. We and India have a lot to learn from Bangladesh, two thirds the GDP per head of Pakistan, but higher health and education rates. GST is given to poor nations, let us make the most of it , and learn from Bangladesh.

Recommend 0

Read more