KARACHI, Nov 10: Domestic consumption of artificial fibre is expected to touch the high mark of well over 400 million tons during the current year as the local textile industry is gradually switching over to blended cotton yarn and fabrics to cater to the rising demand of the world market.

According to official figures compiled by the relevant agencies, the share of synthetic and artificial fibre in the textile manufacturing increased to 30 per cent and it could rise to 40 per cent during the next summer in the West.

“The European consumers want blended fabrics because of their durability and being cheaper in prices,” local textile industry sources claim adding “we are progressively opting for new technologies to meet the demand.”

About 400 odd textile mills consume about 10 million bales of locally produced lint cotton on annual basis in addition to imported synthetic fibre from various countries.

“Spinners also import about a 0.1 million bales of long staple lint cotton from the US and Egypt to produce higher counts of cotton yarn for the Far Eastern export market,” spinners said.

Industry sources said the local textile industry is planning to attune itself to the world demand after adding more value to the locally produced cotton yarn instead of exporting it in the raw form.

“The next five-year massive Rs333 billion expansion and modernization programme launched by the industry is aimed at achieving the goal of adding more value to the lint in more than one way,” a leading textile mill owner said.

The industry during last 18 months have already embarked upon the BMR (balancing, modernisation and replacement) in a big way by spending around $600 million.

Pakistan being a single crop (cotton) economy is heavily dependent on textile exports which accounts for 60 per cent of the total exports at $5.5 billion.

However, Europe and North America being major importing as well as trading partner of Pakistan the Sept 11 attacks in New York and Washington has badly affected its exports to both the region.

Presently Pakistan’s annual textile exports to Europe comes to around $2.4 billion and similarly to US it stands at around $2.430 billion. After the recent removal of tariff and enhancing of textile quota by 15 per cent by EU, exports to this region are expected to increase further.

Although the real size of current crop could not be correctly estimated at this time of the season, private and official estimates put the crop over 10 million bales.

According to official figures, the textile industry during the out-going cotton season consumed around 9.5 million bales, therefore, the consumption for current season is being placed higher at 10.5 million bales provided the current recession in the world economy do not slip into depression, industry sources said.