Textile Briefs National

1. PTEA Chairperson Mian Shaiq Jawed said value-addition is key to success and the government must focus on capturing a greater share in regional and international trade through it.

2. Exports of textile and clothing products recorded an eight per cent growth year-on-year to $11.2 billion in the 10 months of 2017-18. Exports of ready-made garments went up 11.96pc in value and 13.44pc in quantity while those of knitwear edged up 14.65pc in value and 3.7pc in quantity during these 10 months. Exports of bedwear went up 4.77pc in value and 3.17pc in quantity.

3. The final cotton production figures released by Pakistan Cotton ginners’ Association (PCGA) said that country produced 11.58 million bales during the cotton season 2017-18 which closed on May 1, against 2016-17 when 10.72 million bales were produced till April 15, 2017.

4. Swiss companies in the past ten years have invested CHF 1.5 billion in Pakistan making Switzerland stand among top ten foreign director investors. Major exports from Switzerland to Pakistan are pharmaceuticals, textile machines, and watches.

5. Economists expressed their dismay over budget 2018-19 and lamented that no measures have been taken for industrialisation and extension in PM export packages, said All Pakistan Textile Mills Association Executive Member Gohar Ejaz.

6. PRGMEA Senior Vice Chairman appealed the Finance Ministry to release the funds without any further delay, as more than 30% cash flow has been blocked since long in the shape of sales tax refund and customs rebate, which is adversely damaging cash liquidity.

7. Consul General of Turkey, Tolga Ucak said that Turkish companies are interested in textile and food sector of Pakistan. He was talking to a gathering on business community at Korangi Association of Trade & Industry (KATI).

8. Global businesses are shifting to South Asia and Pakistan will survive in this changing environment only by virtue of its well regulated Chambers of Commerce and Industries (CCI) and Trade Organisations (TOs), said Directorate General Trade Organisations (DGTO) Regulator Dr Waqar Ahmad Shah.

9. The Consul General and Patron of the Swiss Business Council  Mr. Philippe Crevoisier has said Swiss companies in the past ten years have invested CHF 1.5 billion in Pakistan making Switzerland stand among top ten foreign direct investors. Switzerland is one of the main supplier country of textile machinery and chemicals.

10.  About Rs.50 billion has been released by the government for the textile sector during the current financial year and these steps have arrested the declining trend of exports and now textile exports during the current financial year have increased by 7.17% compared to last year according to the Commerce Ministry.


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