Pakistan’s textile and clothing exports fell 1.98% year-on-year
to $11.234 billion during the first 11 months of the current
fiscal year. The decline in export proceeds was also evident in
rupee terms during the July-May period of 2016-17.
Pakistan cotton industry has requested the Ministry of Textile
and Cotton Crop Assessment Committee to protect the cotton crop
from possible damage due to rain and virus attack.
Representatives from the industry have sought technical support
for the growers. They have also asked for the supply of
certified cotton seeds for improved production of quality crops.
The free market policy will continue and the government will
pull completely out of cotton business and focus mainly on
regulation, said Aamer Irshad Chief Food and Agriculture
Planning Commission. He said cotton will continue as an
important contributor to the national economy and private sector
will be encouraged to lead innovation, bring knowledge and
investment in cotton technology.
4All Pakistan Textile Mills Association (Aptma) said that annual
exports of textiles have declined from $13.5 billion in FY-14 to
$10.5 billion in FY-17. It may go down further on the back of
the growing foreign competition from China and India, as well as
from such newcomers as Vietnam, and non-cotton-growing
Pakistan Hosiery Manufacturers and Exporters Association (PHMA)
Chairman Adil Butt has expressed concern over the decline in
textile exports, which have dropped 1.98% in the first 11 months
of the current fiscal year. He said the government is
responsible for the constant decline in textile exports because
of delay in the release of tax refunds of exporters and asked it
to immediately release all the pending sales tax refund and
customs rebate claims as well as withholding tax claims.
The Federal government has released Rs 3 billion for immediate
payment of refund claims to textile exporters whereas more funds
are being arranged to resolve the issue completely, said Hasan
Iqbal, Federal Secretary for Textile Industry. Addressing a
meeting of Pakistan Hosiery Manufacturers and Exporters
The Pakistan Readymade Garments Manufacturers & Exporters
Association (PRGMEA) and China Chamber of Commerce for Import
and Export of Textile and Apparel (CCCT) had signed a memorandum
of understanding (MoU) to promote trade between China. Wang Vu,
Vice Chairman of the Association said that Pakistan, one of the
top five cotton producers in the world has growth potential for
value-added garments and apparel sector.