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Pakistan has decided to challenge the European Union’s (EU) trade restrictive measures adopted under the generalised system of preferences (GSP) plus scheme and anti-dumping duty on bed linen in the Geneva-based World Trade Organisation (WTO).
The World Bank Country Director John Wall has asked Pakistan to allow currency depreciation through a flexible exchange rate that would support deteriorating exports which are facing tough competition from neighbours. He said that Pakistan’s textile exports, including cotton yarn, fabrics, made ups and others were facing tough competition from India and China as the two neighbours have kept their currencies under-valued while Pakistan allowed its rupee to be over-valued.
Punjab Seed Council (PSC) has approved a new cotton variety NIG-2 developed by National Institute for Biotechnology and Genetic (Nibge) Faisalabad. This variety has been developed genetically and has resistance against insects and worms of curl leaf virus.
Mr. Zulfikar Thaver, President Union of Small and Medium Enterprises (UNISAME) has appealed to the Prime Minister, Shaukat Aziz, to approve the Small and Medium Enterprises (SMEs) policy. He said tough competition and rising costs of inputs are making large-scale manufacturing uncompetitive and without the help and involvement of Small and Medium Enterprises in production, the cost could not be brought down which was a prime necessity to get due share in the world market.
Best quality of cotton is likely to gain more strength on higher demand by the mills, meanwhile the Karachi Cotton Association (KCA) official spot rate remained unchanged at Rs 2,550, without upcountry expenses. The prices of phutti were at Rs 1,325-1,350 in the Punjab and Sindh.
Federal Minister for Food, Agriculture and Livestock, Sikandar Hayat Khan Bosan has expressed hope that the production of cotton will cross the target fixed this year, although, Pakistan could not meet the target fixed last year due to floods.
The Pakistan Textile Exporters Association (PTEA) ex-Chairman has demanded that instead of providing subsidy or concessions to exporters the Government should concentrate on reducing the cost of doing business in the country by revising unnecessary levies on exports such as the cost of gas, withholding tax, provincial and local taxes.
The Ambassador of the Union of Myanmar, U. Tin Oo said Pakistan has sought help from Pakistan to get good yield of cotton in Myanmar. Our people should be trained in the Pakistani institutions to keep them abreast of modern technology in this field, he observed.
Punjab Seed Council (PCS) has approved three new cottonseed varieties, which would bring revolution in agro-economy with their better yield potential. The seed of newly approved varieties would be available on large scale by PSC after two years’ multiplication process.
Pakistan is striving to revive the textile industry and to improve its competitiveness in world market. For its revival, the Prime Minister has constituted a National Textile Strategy Committee, comprising of representatives from key Ministries, concerned departments and private sector.
On the initiative of Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA), four leading associations in the value-added sector of textile have formed the Pakistan Apparel Forum with wider objective of fighting with the influential spinning and weaving sector of the country.
The Environment Protection Agency (EPA) has failed to register two varieties of BT cotton in spite of directives of the Planning Commission and the MINFAL, said farmers associations. The Agency, an attached department of the Ministry of Environment is the main hurdle for the promotion of BT cotton.
The textile industry recorded a minimal growth of 4.3% during FY06 as against a strong growth of 27.1%in the preceding year. According to official sources, this is partially due to high cost effect, smaller cotton crop and low gas supply, particularly in December 2005 in the areas of Punjab where a large number of textile units are located.
Muhammad Younas, Chairman of All Pakistan Bedsheet & Upholstery Manufacturers Association (APBUMA said that devaluation of currency was not interest of the country’s economy and it would cause an increase in the prices of imported items including capital machinery and essential raw materials.
Pakistan Textile Exporters Association (PTEA) Chairman, Mian Zahid Aslam has proposed that a 13% cut in gas rates was not a proper solution of the textile crisis in the country but actual zero-rating of textile sector would pave the way for stabilizing the textile industry and promoting exports.
The Federal Committee on Agriculture (FCA) has estimated production of 12.4 million bales against the cotton production target of 13.8 million bales for 2006-07 while Cotton Assessment Committee in its last meeting had repeated the first estimate.
The Ministry of Textile and Industry has asked the authorities of Sui Northern Gas Pipeline Ltd (SNGPL) and Sui Southern Gas Company (SSGC) to ensure smooth supply of gas to the textile sector in winter season while treating it as ‘general industry’.
Prime Minister Shaukat Aziz has set up a Committee to monitor the entire process of statistics collection, compilation and analysis, particularly the figures regarding industrial production. The Prime Minister said the availability of accurate data played a critical role in future planning and development of the country.
