Textile Briefs National


1. Chinese investors have expressed a desire to enter into joint ventures with Pakistani companies for exporting high-quality fabric to China that would boost bilateral trade. This was conveyed by the Chinese side recently visited the Punjab Board of Investment and Trade (PBIT).

2. A Pakistani textile firm, which supplies socks to Nike and Adidas, is planning biggest ever initial public offering by a private firm in the country. The company plans to rise as much as Rs6.8 billion (US$ 51 million) to expand its sock manufacturing capacity by around 20% and enter the denim business.

3. The All Pakistan Textile Mills Association (APTMA) Punjab Chairman Adil Bashir urged the government to direct the Sui Northern Gas Pipelines Ltd (SNGPL) to issue revised gas bills to the eligible industry @ US$ 6.5/MMBTU all inclusive on gas consumption for both captive and processing use.

4. Textile division identified three pressing export impediments, including pending liabilities of Rs 115 billion with the Federal Board of Revenue (FBR), cost/ease of doing business and the levy of custom duty on import of cotton for failing to achieve targets.

5. According to the Pakistan Cotton Ginners’ Association (PCGA), at present 622 ginning factories were operational in Punjab compared to 685 ginneries that were operational during the same time last season. Similarly, 287 ginning units were operational in the Sindh region, compared to 294 operating units during the corresponding period last year.

6. Pakistani manufacturers and exporters of knitwear garments have planned to adhere to environmental laws in their factories within a year through technical support from the Punjab Environment Protection Department.

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

8. Interloop limited, which makes socks for Nike and Adidas, is planning Pakistan’s biggest ever initial public offering by a private firm. Bloomberg reported that the company is planning to rise as much as Rs6.8 billion (US$ 51 million) to expand its sock manufacturing capacity by around 20% and enter the denim business.

 

 
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