Textile Briefs National


1. Cotton production can be raised up to 15 million bales if the Cotton Control Act is properly implemented, said Haji Muhammad Akram, Chairman of Pakistan Cotton Ginners Association (PCGA).  He said  at present cotton production would be around 11.5 to 12 million bales this year with production in Punjab expected to rise and that in Sindh likely to fall.

2. 2About 100 closed mills are expected to reopen  in Punjab due to the promised Rs.44 billion subsidy for exporters according to the Minister for Finance, Revenue and Economic Affairs, Asad Umar. The subsidy will be derived from a regulatory hike in gas prices which has raised the price by 40% from Rs.600 per million British thermal unit (mmBtu) to Rs.780 mmBtu for commercial consumers. 

3. The All Pakistan Textile Mills Association (APTMA) said due to high operating costs and inadequate supply of raw cotton, around 140 textile mills have shut shop, rendering a million jobless. Around 80 more mills are on the verge of closure, which will add another 0.5 million to the unemployment statistics.

4. Indonesian Parliament has passed free market access to 20 tariff lines, originating in Pakistan, under the preferential trade agreement (PTA) between the two nations. The tariff lines that will entail zero-duty with immediate effect include some types of yarn, woven fabric, t-shirts, vests, singlets, trousers, shorts, bed linen, terry towels, etc.

5. Despite a slight dip in overall textile exports, the knitwear garment sector has maintained a steady pace of growth in its shipments and led the sector with an increase of 16.13% in its exports for October 2018. Pakistan’s overall textile exports were recorded at $1.13 billion in October, down 0.12% compared with $1.132 billion in the same month last year.

6. The world’s biggest cloth retailer Inditex Group, which owns Zara has decided to double its imports from Pakistan and opened an office in the country.

7. Executives of Uniqlo, a subsidiary of Fast Retailing Inc, recently visited Pakistan and met representatives of five companies from Karachi, Faisalabad and Lahore. Three companies have been shortlisted for joint ventures, primarily related to circular cutting, shirt fabric and sewing.

 

 
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