Pakistan: Garments export likely to come down in 2010-11
Due to high prices of end product, Pakistan value-added textile export did not seem competitive in Europe as well as in The United States, accordingly export of garments is likely to come down from $3.2 billion to $3 billion during 2010-11.
Egytex News Desk
Source: www.yarnsandfibers.com
Representatives of different value-added organizations, while talking to Business Recorder stated that the value added textile industry is crippled owing to frequent load shedding, high electricity and gas tariff, multiple duties and taxes, resulting in high cost of doing business in Pakistan, as compared to the neighboring states.
The prices of the export items to the EU and USA have increased due to increase in cost of doing business. Moreover, an amount of more than Rs 42 billion has stuck up with the government in various drawbacks and refunds regimes. Value-added textile export is hit hard by high cost of raw material including cotton and polyester.
The textile export industry in Pakistan was the one, which provided maximum employment, and it was a hard fact that unemployment started rising due to constant closure of these units. Unless immediate steps were taken, it would be difficult to achieve textile export target
Source: www.yarnsandfibers.com
From the Egytex news archive, first published on 17 October 2010. Figures and names are as reported at the time.
