LAHORE, Nov 26: Leading manufacturers of knitwear products will visit Bangladesh to explore the possibilities of entering into joint venture arrangements for knitwear garment production there.

The delegation will be led by Avais Mazhar Hussain of Angora Textiles.

A spokesman of Pakistan Hosiery Manufacturing Association (PHMA) said on Saturday that the situation of deteriorating competitiveness of Pakistan’s knitwear industry was forcing the well-established industrial units to think of shifting their businesses outside the country because of the higher cost of manufacturing.

“Overseas markets can no longer absorb our internal pressures (of higher costs). This situation is an unhealthy sign for our economy because shifting or relocation of manufacturing units to other destinations will result not only in massive unemployment in the country, but will also slowdown the economy.”

The home textile industry, the spokesman said, had also undertaken similar exercise. “But perhaps the government does not seem to be concerned over these alarming signals,” he said.

Bangladesh has over the last few years developed woven and knitted garments manufacturing industry and has achieved good results in the international market. Its export of woven and knitted garments is much higher than of Pakistan. Sri Lanka is another similar example. Both the countries are importing cotton and other raw materials and exporting manufactured textile products to other countries. “If the Pakistan government could think over the reasons of uncompetitiveness of the knitwear industry and the factors responsible are redressed, we would have much more potential than any other country to establish ourselves in the international markets,” the spokesman said.

The knitwear garments industry of Pakistan is facing multifarious problems due to both internal as well as external factors. “External forces are definitely beyond our control and the industry can face the ground realities operating there, but these effects can only be offset by domestic policy measures so that wheel of industry is kept revolving,” the PHMA spokesman said.

“The government must not overlook the trend of entrepreneurs and industrialists going abroad for exploring potential of shifting their industrial units and trade activities there. We are not in a position to afford such trend in our business attitude and the government should take a very serious note of that,” the PHMA spokesman said.