Login ID:
Password:
Partner Login
Contact Us : 07666977977

Pakistan Textile Export Falls In 2016

2 Jan 2017 11:21 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI(Commoditiescontrol)- The textile industry of Pakistan witnessed a depressed export performance in 2016 as it fell further by $600 million due to high cost of business operation , said All Pakistan Textile Mills Association (APTMA) Chairman Aamir Fayyaz in a statement. Total merchandise exports are expected to fall by $1.2 billion in the current fiscal year, it added.

The textile industry was operating 10 percent expensive compared to its international competitors and the adding woes of paying a higher energy cost of 4 cents/per kilowatt since 2013, were negatively impacting the growth of textile industry in the country.

Since major textile manufacturing units are in Punjab, the high energy cost has led to closure of at least 70 textile mills in the last six months.

Further, the country is likely to be dependent on imported cotton and man made fibre because of an acute shortfall of domestic cotton production at 10.54 million bales from the estimated target of nearly 14.1 million bales.

Fayyaz said the presumptive tax regime in the country is an additional burden on the organised segment of the textile industry as it cannot be passed on to international buyers.

He said that free trade agreements (FTAs) are posing serious challenge to the domestic industry. “Manufacturing has been replaced with trading because of the poor confidence of investors,” he added.

Pakistan’s currency is overvalued by 10pc in dollar terms, which is inhibiting exports, he noted.

(By Commoditiescontrol Bureau; +91-22-40015534)


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
DJ ICE Daily Cotton Stocks - Aug 17
USDA Weekly Export Sale Exhibits Strong Performance
DJ ICE Agricultural Final Volume - Aug 17
DJ Cotlook 'A' Index Lower At 77.70 - Aug 17
Indian Cotton Yarn Spot, Yarn FOB & Comber Price- Augus...
more
Top 5 News
DJ Metals: Gold Continues Rise After Fed Minutes Show D...
DJ London Late Gold And Silver At 1515 GMT
DJ Growing Shale Output Drags Oil Prices Lower
DJ Comex Futures Open Interest - Aug 17
DJ Nymex Open Interest For Aug 16 Palladium +1,138, Pla...
Top 5 Special Reports
Technical: Lead MCX: Bull Market Rally Emerging
Technical: Aluminium MCX - Bull Market Likely
Technical: Zinc MCX - Preparation For Bull Market
Technical: Masoor Canada (Mumbai) - Reversal Attempt Wi...
Technical: Chana Indore- Expect Resistance To Be Tested...
Copyright © CC Commodity Info Services LLP. All rights reserved.