KARACHI, Sept 22: The leaders of textile industry seem to be in a fix after noticing a sharp drop in export of textile products and a fall in import of textile machinery during July and August this year and to quote a prominent textile tycoon “we are now thinking of an exit strategy rather than revival of industry.’’

While the overall export of textiles is down by 5.27 per cent in first two months of the current fiscal year, the yarn export is short by 6.75pc than last year.

The export of cotton cloth has fallen by 36.33 per cent in quantity terms and 17.93 per vent value-wise. Bedwear export too is down by 13.39 per cent.

Textile machinery import in August was worth $32.32 million. Import of textile machinery slided down to $471.62 million last fiscal year as against $910.81 million a year earlier, indicating that the honey mooning for textile investors is over.

It is coming at a time when Indians are making huge investments in textile.

Out of about a million bales arrival at ginneries, more than 6,000 bales have been exported.

The All-Pakistan Textiles Association wants suspension of export till a final assessment of cotton crop is made. Would cotton be imported later at higher prices after exporting it at lower price as was the case in wheat,’’ the APTA asked a question.

It fears that government policies will further expand trade deficit.