Textile Industries of Pakistan
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Textile policy
The government has approved a textile policy that will boost Pakistan’s exports to reach $42 billion in the next two years.
Addressing a news conference in Islamabad on Wednesday, the Adviser on Commerce, Abdul Razak Dawood, said that the federal Cabinet approved the policy yesterday.
He said that one of the policy’s main objectives is to give internationally competitive gas and electricity tariffs to the textile industry.
Dawood mentioned that the government had reduced duties on the import of raw material in the budget and this tariff rationalization has been maintained in the policy. He added that it will continue to provide financing facility to the textile industry.
The adviser said that the textile sector is growing phenomenally and its exports are expected to touch $21 billion by the end of this fiscal year as compared to $15 billion last year, which is a 26 percent growth of the sector. He added that the export target for the next year is $38.2 billion, and $42 billion for 2024-25....
The government has approved a textile policy that will boost Pakistan’s exports to reach $42 billion in the next two years.
Addressing a news conference in Islamabad on Wednesday, the Adviser on Commerce, Abdul Razak Dawood, said that the federal Cabinet approved the policy yesterday.
He said that one of the policy’s main objectives is to give internationally competitive gas and electricity tariffs to the textile industry.
Dawood mentioned that the government had reduced duties on the import of raw material in the budget and this tariff rationalization has been maintained in the policy. He added that it will continue to provide financing facility to the textile industry.
The adviser said that the textile sector is growing phenomenally and its exports are expected to touch $21 billion by the end of this fiscal year as compared to $15 billion last year, which is a 26 percent growth of the sector. He added that the export target for the next year is $38.2 billion, and $42 billion for 2024-25....
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Cotton arrival in Pakistan increased 32.4% year-on-year, showed the latest fortnightly data released by the Pakistan Cotton Ginner's Association (PCGA) on Friday.
As per the report, total cotton arrivals surged to 7.434 million bales as of February 15, 2021, compared to 5.616 million bales in the same period last year, a difference of 1.82 million bales.
Cotton arrival in Punjab was 3.922 million bales compared to 3.480 million bales in the same period last year, an increase of 0.442 million bales or 13%. On a fortnightly basis, cotton arrival recorded a marginal increase of 0.3% as compared to 3.908 million bales on February 1.
Similarly, cotton arrival in Sindh reached 3.512 million bales on February 15, as compared to 2.135 million bales reported in the same period last year, an increase of 1.377 million bales or 64%. On a fortnightly basis, cotton arrival from Sindh remained almost unchanged.
Cotton is crucial for Pakistan's textile sector, which accounts for a lion's share of the country’s exports. The textile sector alone accounts for 3.4% of the Gross Domestic Product (GDP) of the South Asian country, as per the Asian Development Bank (ADB).
Pakistan’s textile group exports witnessed 24.73% growth during the first seven months (July-January) of the current fiscal year and remained $10.933 billion compared to $8.765 billion during the same period of the last fiscal year, shared data published by the Pakistan Bureau of Statistics (PBS) on Thursday.
On a year-on-year basis, textile group exports witnessed 17.29% growth in January 2022, when compared to $1.323 billion in January 2021.
As per the report, total cotton arrivals surged to 7.434 million bales as of February 15, 2021, compared to 5.616 million bales in the same period last year, a difference of 1.82 million bales.
Cotton arrival in Punjab was 3.922 million bales compared to 3.480 million bales in the same period last year, an increase of 0.442 million bales or 13%. On a fortnightly basis, cotton arrival recorded a marginal increase of 0.3% as compared to 3.908 million bales on February 1.
Similarly, cotton arrival in Sindh reached 3.512 million bales on February 15, as compared to 2.135 million bales reported in the same period last year, an increase of 1.377 million bales or 64%. On a fortnightly basis, cotton arrival from Sindh remained almost unchanged.
Cotton is crucial for Pakistan's textile sector, which accounts for a lion's share of the country’s exports. The textile sector alone accounts for 3.4% of the Gross Domestic Product (GDP) of the South Asian country, as per the Asian Development Bank (ADB).
Pakistan’s textile group exports witnessed 24.73% growth during the first seven months (July-January) of the current fiscal year and remained $10.933 billion compared to $8.765 billion during the same period of the last fiscal year, shared data published by the Pakistan Bureau of Statistics (PBS) on Thursday.
On a year-on-year basis, textile group exports witnessed 17.29% growth in January 2022, when compared to $1.323 billion in January 2021.
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May 15, 2022
ISLAMABAD: Exports of textile and clothing grew 25.96 per cent year-on-year to $15.98 billion in the first 10 months of this fiscal year on the back of a massive rupee depreciation and a steady rise in global demand.
The textile and clothing exports grew 30.50pc year-on-year in April, showed data released by the Pakistan Bureau of Statistics (PBS) on Saturday.
The ready-made garment exports jumped 27.95pc in value and 41.09pc in quantity during July-April 2021-22, while the export of knitwear soared 35.14pc in value but dipped 2.64pc in terms of quantity. Bedwear exports grew 19.01pc in value and 13.43pc in quantity.
Towel exports were up by 19.46pc in value and 5.16pc in quantity, whereas those of cotton cloth rose by 26.81pc in value and 7.14pc in quantity.
Among primary commodities, cotton yarn exports increased 22.11pc and those of yarn made from material other than cotton increased by 100pc. The exports of made-up articles — excluding towels — rose by 13.08pc, while those of tents, canvas and tarpaulin dipped by 4.62pc during the period under review. The export of art, silk and synthetic textile increased by 27.73pc during the months under review.
The import of textile machinery jumped 56.38pc in July-April year-on-year to $678.452m, reflecting expansion or modernisation in the textile industry.
For bridging the shortfall in the domestic sector, the industry imported raw cotton in July-April value of which posted an increase of 19.15pc, while the import value of synthetic fibre posted a growth of 25.92pc, followed by the import of synthetic and artificial silk yarn 27.15pc during the months under review.
The import of worn clothing recorded a growth of 59.61pc in the first 10 months of the current fiscal year from a year ago.
During the 10-month period, the country’s overall exports posted a year-on-year growth of around 25.56pc to reach $26.24bn from $20.90bn in the same period last year.
The PTI government had unveiled textile and apparel policy last month with various measures to promote production and quality of the textile and clothing. In the budget 2021-22, the government drastically reduced duty and taxes on imports of several hundred raw materials to bring down the input cost of exportable products.
Liquidity issues were resolved to a considerable extent by timely release of refunds, customs rebates and the payment of cash subsidies.
Published in Dawn, May 15th, 2022
Textile exports jump 26pc to $16bn in July-April
The NewspaperMay 15, 2022
ISLAMABAD: Exports of textile and clothing grew 25.96 per cent year-on-year to $15.98 billion in the first 10 months of this fiscal year on the back of a massive rupee depreciation and a steady rise in global demand.
The textile and clothing exports grew 30.50pc year-on-year in April, showed data released by the Pakistan Bureau of Statistics (PBS) on Saturday.
The ready-made garment exports jumped 27.95pc in value and 41.09pc in quantity during July-April 2021-22, while the export of knitwear soared 35.14pc in value but dipped 2.64pc in terms of quantity. Bedwear exports grew 19.01pc in value and 13.43pc in quantity.
Towel exports were up by 19.46pc in value and 5.16pc in quantity, whereas those of cotton cloth rose by 26.81pc in value and 7.14pc in quantity.
Among primary commodities, cotton yarn exports increased 22.11pc and those of yarn made from material other than cotton increased by 100pc. The exports of made-up articles — excluding towels — rose by 13.08pc, while those of tents, canvas and tarpaulin dipped by 4.62pc during the period under review. The export of art, silk and synthetic textile increased by 27.73pc during the months under review.
The import of textile machinery jumped 56.38pc in July-April year-on-year to $678.452m, reflecting expansion or modernisation in the textile industry.
For bridging the shortfall in the domestic sector, the industry imported raw cotton in July-April value of which posted an increase of 19.15pc, while the import value of synthetic fibre posted a growth of 25.92pc, followed by the import of synthetic and artificial silk yarn 27.15pc during the months under review.
The import of worn clothing recorded a growth of 59.61pc in the first 10 months of the current fiscal year from a year ago.
During the 10-month period, the country’s overall exports posted a year-on-year growth of around 25.56pc to reach $26.24bn from $20.90bn in the same period last year.
The PTI government had unveiled textile and apparel policy last month with various measures to promote production and quality of the textile and clothing. In the budget 2021-22, the government drastically reduced duty and taxes on imports of several hundred raw materials to bring down the input cost of exportable products.
Liquidity issues were resolved to a considerable extent by timely release of refunds, customs rebates and the payment of cash subsidies.
Published in Dawn, May 15th, 2022
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The country’s total textile exports have posted a growth of around 29% YoY to $15 billion in 10MFY22 as compared to $11.7bn in the corresponding period of FY21, data issued by the State Bank of Pakistan (SBP) showed.
In April 2022, textile products remained the major exportable goods for Pakistan as this group accounted for 50% of the total exports during the review month. The overall exports of the textile group showed a notable growth of 24% YoY to $1.58bn compared to $1.27bn recorded in the same period of last year. whereas, on MoM basis, the exports dipped by 7.27% in March 2022.
During the month, key contributing products under the textile head were knitwear ($400mn), readymade garments ($358mn), and bedwear ($239mn) with a growth of 37.15% YoY, 35.27% YoY, and 7.08% YoY, respectively when compared to April 2021.
The country’s total textile exports have posted a growth of around 29% YoY to $15 billion in 10MFY22 as compared to $11.7bn in the corresponding period of FY21, data issued by the State Bank of Pakistan (SBP) showed.
In April 2022, textile products remained the major exportable goods for Pakistan as this group accounted for 50% of the total exports during the review month. The overall exports of the textile group showed a notable growth of 24% YoY to $1.58bn compared to $1.27bn recorded in the same period of last year. whereas, on MoM basis, the exports dipped by 7.27% in March 2022.
During the month, key contributing products under the textile head were knitwear ($400mn), readymade garments ($358mn), and bedwear ($239mn) with a growth of 37.15% YoY, 35.27% YoY, and 7.08% YoY, respectively when compared to April 2021.
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Cotton yarn exports from the country increased by 22.11 percent in the first ten months of this fiscal year compared to the same time the previous year.
According to Pakistan Bureau of Statistics statistics, between July and April 2021-22, roughly 284,670 metric tons of cotton yarn worth $1.006 billion were exported, compared to 327,519 metric tons worth $832.952 million during the same time previous year.
Cotton yarn exports from the country increased by 22.11 percent in the first ten months of this fiscal year compared to the same time the previous year.
According to Pakistan Bureau of Statistics statistics, between July and April 2021-22, roughly 284,670 metric tons of cotton yarn worth $1.006 billion were exported, compared to 327,519 metric tons worth $832.952 million during the same time previous year.
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16 Jul, 2022
Patron in Chief of the All Pakistan Textile Mills Association (APTMA) Dr Gohar Ejaz on Saturday indicated that the textile industry is expecting over 20% growth in exports this fiscal year, cautiously adding that this is possible if the government continues with the policy of 'Regionally Competitive Energy Tariffs'.
APTMA, a trade organisation representing the largest industrial sector of Pakistan, said that the textile industry posted record export growth in FY22 with its expansion and investment plans under the State Bank of Pakistan’s (SBP) Long Term Financing Facility (LTFF) and Temporary Economic Refinance Facility (TERF).
“In addition, the country’s textile industry plans to import 6 million bales of cotton this year from the US and Brazil,” Gohar was quoted as saying in a statement.
The textile sector makes up a lion's share of Pakistani exports. In the first eleven months of FY22, the exports of textile commodities surged to $17.62 billion against exports of $13.74 billion in the same period of the previous year, according to latest data published by the Pakistan Bureau of Statistics (PBS) on Friday.
Earlier this month, the textile industry sought the prime minister's help for the restoration of gas to the sector, stressing that a loss of almost $1 billion in exports would take place due to energy suspension and long holidays.
Gohar, in a letter to Prime Minister Shehbaz Sharif, stated then that the textile industry had achieved a new record in terms of exports, and the momentum could be lost due to energy-suspension.
“The fantastic growth was enabled by the implementation of RCET, investment of over $5 billion in expansion and establishment of 100 new textile units resulting in enhanced export capacity of $500 million per annum.
“It is inexplicable that the exporting sector which has the capacity to deliver over $2 billion in exports per month is being denied energy/gas and consequently, exports will be significantly lower, much to the detriment of Pakistan’s economy.”
Back then, Gohar stated that textile exports were expected to increase to over $25 billion in the coming fiscal year and if that momentum was lost due to energy supply and cost constraints, Pakistan would be forced to seek an additional $6 billion in loans, which under the circumstances may not be possible.
APTMA expects over 20% growth in Pakistan's textile exports in FY23
BR16 Jul, 2022
Patron in Chief of the All Pakistan Textile Mills Association (APTMA) Dr Gohar Ejaz on Saturday indicated that the textile industry is expecting over 20% growth in exports this fiscal year, cautiously adding that this is possible if the government continues with the policy of 'Regionally Competitive Energy Tariffs'.
APTMA, a trade organisation representing the largest industrial sector of Pakistan, said that the textile industry posted record export growth in FY22 with its expansion and investment plans under the State Bank of Pakistan’s (SBP) Long Term Financing Facility (LTFF) and Temporary Economic Refinance Facility (TERF).
“In addition, the country’s textile industry plans to import 6 million bales of cotton this year from the US and Brazil,” Gohar was quoted as saying in a statement.
The textile sector makes up a lion's share of Pakistani exports. In the first eleven months of FY22, the exports of textile commodities surged to $17.62 billion against exports of $13.74 billion in the same period of the previous year, according to latest data published by the Pakistan Bureau of Statistics (PBS) on Friday.
Earlier this month, the textile industry sought the prime minister's help for the restoration of gas to the sector, stressing that a loss of almost $1 billion in exports would take place due to energy suspension and long holidays.
Gohar, in a letter to Prime Minister Shehbaz Sharif, stated then that the textile industry had achieved a new record in terms of exports, and the momentum could be lost due to energy-suspension.
“The fantastic growth was enabled by the implementation of RCET, investment of over $5 billion in expansion and establishment of 100 new textile units resulting in enhanced export capacity of $500 million per annum.
“It is inexplicable that the exporting sector which has the capacity to deliver over $2 billion in exports per month is being denied energy/gas and consequently, exports will be significantly lower, much to the detriment of Pakistan’s economy.”
Back then, Gohar stated that textile exports were expected to increase to over $25 billion in the coming fiscal year and if that momentum was lost due to energy supply and cost constraints, Pakistan would be forced to seek an additional $6 billion in loans, which under the circumstances may not be possible.
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Usman Hanif
July 21, 2022
Outstanding borrowing by textile manufacturers spiked to Rs1.43 trillion by the end of February 2022 compared to $1.13 trillion in the same month of the previous year.
KARACHI: Pakistan’s textile sector witnessed robust exports that reached $19.3 billion in financial year 2021-22, showing 26% surge over previous year, according to the Pakistan Bureau of Statistics (PBS).
In June alone, the exports were up 3% year-on-year, according to the Pakistan Bureau of Statistics (PBS).
Exports grew owing to increased volumetric growth of 16% YoY in the value-added segment, steep rise in global demand and record high cotton prices, said Topline Research textile analyst Saad Ziker. In terms of value, they reached Rs3.4 trillion, up 40% YoY.
“The textile sector provides a major cushion against the deteriorating economic climate since its exports account for around 60% of Pakistan’s total export volume,” said Aba Ali Habib Securities analyst Ali Asif.
However, a slowdown is expected in textile demand amid burgeoning inflationary pressures in the exporting destinations, especially in the US and European countries, which may aggravate the situation for Pakistan by increasing the trade imbalance, he predicted.
Under the value-added category, the knitwear segment remained the top performer by posting 34% YoY growth in exports to $5.1 billion in FY22 due to a sharp rise in global demand, especially in the US and European countries, Ziker said.
Other value-added segments such as ready-made garments, bed wear and towel posted year-on-year growth of 29%, 19% and 19% to $3.9 billion, $3.3 billion and $1.1 billion respectively.
Despite the global economic crisis, the textile sector is posting export growth and earning foreign exchange for the country, said textile analyst Arsalan Hanif.
However, the textile sector will not be able to maintain a similar growth trend owing to the rising cost of production due to the recent rise in energy cost along with gas and electricity load-shedding, causing fall in export orders as companies are unable to meet export commitments.
Interestingly, Pakistan’s textile exports remained four times high compared to imports in FY22. Textile exports reached $19.3 billion in FY22, whereas imports of the commodity stood at $4.8 billion, including imports of raw cotton, fibre, worn clothing, etc.
As compared to last month, Pakistan textile exports recorded 4% MoM growth in Jun-22 led by 4% MoM increase in volumetric growth mainly because of Eid holidays in May 2022. During the month, major increase was witnessed in Value-added division, especially in the Readymade garments segment, 15% MoM.
The export of Knitwear went up 11% MoM with a 28% increase in volumetric growth.
In Jun-22, all items in basic textiles witnessed a negative MoM and YoY change to $301 million, down 13% MoM and 9% YoY.
In comparison with June 2021, Pakistan textile exports are up by 3% YoY, higher 35% YoY in Pakistan in terms of Pakistani rupee in June 2022.
Expected increase in energy tariffs, fall in global economies and decline in cotton prices are key challenges the textile sector could face going ahead, though rupee depreciation would provide some cushion, Ziker said.
Published in The Express Tribune, July 21st, 2022.
Textile exports surge to $19.3 billion in FY22
Shipments grow 26% due to sharp rise in global demandUsman Hanif
July 21, 2022
Outstanding borrowing by textile manufacturers spiked to Rs1.43 trillion by the end of February 2022 compared to $1.13 trillion in the same month of the previous year.
KARACHI: Pakistan’s textile sector witnessed robust exports that reached $19.3 billion in financial year 2021-22, showing 26% surge over previous year, according to the Pakistan Bureau of Statistics (PBS).
In June alone, the exports were up 3% year-on-year, according to the Pakistan Bureau of Statistics (PBS).
Exports grew owing to increased volumetric growth of 16% YoY in the value-added segment, steep rise in global demand and record high cotton prices, said Topline Research textile analyst Saad Ziker. In terms of value, they reached Rs3.4 trillion, up 40% YoY.
“The textile sector provides a major cushion against the deteriorating economic climate since its exports account for around 60% of Pakistan’s total export volume,” said Aba Ali Habib Securities analyst Ali Asif.
However, a slowdown is expected in textile demand amid burgeoning inflationary pressures in the exporting destinations, especially in the US and European countries, which may aggravate the situation for Pakistan by increasing the trade imbalance, he predicted.
Under the value-added category, the knitwear segment remained the top performer by posting 34% YoY growth in exports to $5.1 billion in FY22 due to a sharp rise in global demand, especially in the US and European countries, Ziker said.
Other value-added segments such as ready-made garments, bed wear and towel posted year-on-year growth of 29%, 19% and 19% to $3.9 billion, $3.3 billion and $1.1 billion respectively.
Despite the global economic crisis, the textile sector is posting export growth and earning foreign exchange for the country, said textile analyst Arsalan Hanif.
However, the textile sector will not be able to maintain a similar growth trend owing to the rising cost of production due to the recent rise in energy cost along with gas and electricity load-shedding, causing fall in export orders as companies are unable to meet export commitments.
Interestingly, Pakistan’s textile exports remained four times high compared to imports in FY22. Textile exports reached $19.3 billion in FY22, whereas imports of the commodity stood at $4.8 billion, including imports of raw cotton, fibre, worn clothing, etc.
As compared to last month, Pakistan textile exports recorded 4% MoM growth in Jun-22 led by 4% MoM increase in volumetric growth mainly because of Eid holidays in May 2022. During the month, major increase was witnessed in Value-added division, especially in the Readymade garments segment, 15% MoM.
The export of Knitwear went up 11% MoM with a 28% increase in volumetric growth.
In Jun-22, all items in basic textiles witnessed a negative MoM and YoY change to $301 million, down 13% MoM and 9% YoY.
In comparison with June 2021, Pakistan textile exports are up by 3% YoY, higher 35% YoY in Pakistan in terms of Pakistani rupee in June 2022.
Expected increase in energy tariffs, fall in global economies and decline in cotton prices are key challenges the textile sector could face going ahead, though rupee depreciation would provide some cushion, Ziker said.
Published in The Express Tribune, July 21st, 2022.
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MULTAN: Seed cotton (phutti) equivalent to 1.5 million bales reached ginning factories across the country till September 1, registering a decrease of 14.04% as compared to the corresponding period of last year.
According to a fortnightly report of Pakistan Cotton Ginners Association (PCGA) released on Saturday, over 1.4 million bales have undergone ginning process, ie converted into bales. Cotton arrivals in Punjab were recorded at 0.7 million bales, recording a surplus of 29.09% as compared to the corresponding period of last year, when arrivals stood at only 158,650 bales. Sindh generated supplies of over 0.8 million bales, a decrease of 32.92% as compared to the corresponding period of last year, when arrivals were recorded at 1.24 million bales.
Textile mills bought 1.32 million bales while exporters and Trading Corporation of Pakistan (TCP) didn’t make any purchases during current cotton season 2022-23. Sanghar district of Sindh topped the chart with cotton arrivals of 612,056 bales, followed by Vehari district of Punjab with 103,257 bales.
Farmers supply 1.5m cotton bales
Textile mills bought 1.32 million balesMULTAN: Seed cotton (phutti) equivalent to 1.5 million bales reached ginning factories across the country till September 1, registering a decrease of 14.04% as compared to the corresponding period of last year.
According to a fortnightly report of Pakistan Cotton Ginners Association (PCGA) released on Saturday, over 1.4 million bales have undergone ginning process, ie converted into bales. Cotton arrivals in Punjab were recorded at 0.7 million bales, recording a surplus of 29.09% as compared to the corresponding period of last year, when arrivals stood at only 158,650 bales. Sindh generated supplies of over 0.8 million bales, a decrease of 32.92% as compared to the corresponding period of last year, when arrivals were recorded at 1.24 million bales.
Textile mills bought 1.32 million bales while exporters and Trading Corporation of Pakistan (TCP) didn’t make any purchases during current cotton season 2022-23. Sanghar district of Sindh topped the chart with cotton arrivals of 612,056 bales, followed by Vehari district of Punjab with 103,257 bales.
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BR Web Desk
March 6, 2023
Pakistan’s textile sector exports witnessed a significant decline of 28%, clocking in at $1.2 billion in February 2023 in comparison to $1.67 billion recorded in the same month of the previous year, showed provisional data released by the All Pakistan Textile Mills Association (APTMA) on Monday.
The association added that the country’s textile exports in the first eight months of FY23 decreased by 11% to $11.24 billion, declining from $12.60 billion recorded in 8MFY22.
The decline in textile exports is concerning for the South Asian economy, which is already facing depleting foreign exchange reserves. Its central bank has reserves of just $3.81 billion remaining, barely enough for a month of imports. However, the level will get a slight boost with another loan inflow from China.
Industrialists have expressed concern over the ongoing slump in the textile sector, after cotton arrival in Pakistan also decreased 34.5% year-on-year, showed data released by the Pakistan Cotton Ginner’s Association (PCGA) on Friday.
Last month, the All Pakistan Textile Mills Association (APTMA) urged the federal government for a level playing field by implementing a uniform gas price of $7 per MMBtu for the export industry across the country.
APTMA also warned that the decision of the government to suspend the regionally competitive energy tariff (RCET) of electricity for Export Oriented Units (EOUs) will hurt the textile industry, particularly in Punjab.
Back in December, APTMA wrote a letter addressed to Prime Minister Shehbaz Sharif, warning that the country’s textile exports could fall below $1 billion a month from 2023 onwards, highlighting a range of issues facing the sector that is currently operating at less than 50% capacity utilisation.
Pakistan’s textile exports plunge 28% in February
- Provisional data released by APTMA conveys textile exports stood at $1.2bn in Feb
BR Web Desk
March 6, 2023
Pakistan’s textile sector exports witnessed a significant decline of 28%, clocking in at $1.2 billion in February 2023 in comparison to $1.67 billion recorded in the same month of the previous year, showed provisional data released by the All Pakistan Textile Mills Association (APTMA) on Monday.
The association added that the country’s textile exports in the first eight months of FY23 decreased by 11% to $11.24 billion, declining from $12.60 billion recorded in 8MFY22.
The decline in textile exports is concerning for the South Asian economy, which is already facing depleting foreign exchange reserves. Its central bank has reserves of just $3.81 billion remaining, barely enough for a month of imports. However, the level will get a slight boost with another loan inflow from China.
Industrialists have expressed concern over the ongoing slump in the textile sector, after cotton arrival in Pakistan also decreased 34.5% year-on-year, showed data released by the Pakistan Cotton Ginner’s Association (PCGA) on Friday.
Last month, the All Pakistan Textile Mills Association (APTMA) urged the federal government for a level playing field by implementing a uniform gas price of $7 per MMBtu for the export industry across the country.
APTMA also warned that the decision of the government to suspend the regionally competitive energy tariff (RCET) of electricity for Export Oriented Units (EOUs) will hurt the textile industry, particularly in Punjab.
Back in December, APTMA wrote a letter addressed to Prime Minister Shehbaz Sharif, warning that the country’s textile exports could fall below $1 billion a month from 2023 onwards, highlighting a range of issues facing the sector that is currently operating at less than 50% capacity utilisation.
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April 1, 2023
Pakistan’s textile exports could fall by $3 billion this year as compared to last year, the All Pakistan Textile Mills Association (ATPMA) has said while urging authorities to take immediate and urgent intervention.
The concerns were expressed by APTMA Patron in Chief Gohar Ejaz in a letter to Prime Minister Shahbaz Sharif dated March 31.
Ejaz said that the textile exports for February 2023 clocked in at $1.2 billion while the sector could easily generate $1.7 billion per month in line with exports achieved last year.
He said that additional capacity has also been installed or is under installation through an investment of $5 billion. However, it remains nonoperational due to forex issues and the unavailability of energy.
“The decline in textile exports has been progressively accelerating,” he said.
“The progressive decline in exports is a consequence of the moratorium on import of raw materials and essential spare parts, lack of adequate supply of energy at competitive prices and failure of the sales tax refund system, all have contributed significantly to the closure of over 50% of industry.
“Given the trajectory of decline, Pakistan is likely to fall short by $3 billion in textile exports from the exports achieved last year of $19.4 billion without taking into account any increase from newly installed capacity,” warned Ejaz.
APTMA also called for the implementation of a uniform gas price of $7 per MMBtu for the export industry across the country.
It urged the authorities to restore SRO 1125, Zero rating for the textile value chain while collecting sales tax on domestic sales at the point of sale, and immediately refund all sales tax, tuff and other dues.
Ejaz further said that the Export Oriented Sectors should be allowed to open Letters of Credit without hindrance for raw material machinery, spare parts and other items to restore the industry’s supply line.
The letter comes as Pakistan’s economy is in dire straits, stricken by a balance-of-payments crisis as it attempts to service high levels of external debt amid political chaos and deteriorating security.
Inflation has skyrocketed, while the rupee has plummeted and the country continues to face a shortage of US dollar, which leaves little space for imports, causing a severe decline in industry.
Meanwhile, the APTMA chief in his letter urged the authorities to clear all imports of the Export Oriented sector.
Textile exports may fall by $3bn this year, warns APTMA
- Says additional capacity remains nonoperational due to forex issues and the unavailability of energy
April 1, 2023
Pakistan’s textile exports could fall by $3 billion this year as compared to last year, the All Pakistan Textile Mills Association (ATPMA) has said while urging authorities to take immediate and urgent intervention.
The concerns were expressed by APTMA Patron in Chief Gohar Ejaz in a letter to Prime Minister Shahbaz Sharif dated March 31.
Ejaz said that the textile exports for February 2023 clocked in at $1.2 billion while the sector could easily generate $1.7 billion per month in line with exports achieved last year.
He said that additional capacity has also been installed or is under installation through an investment of $5 billion. However, it remains nonoperational due to forex issues and the unavailability of energy.
“The decline in textile exports has been progressively accelerating,” he said.
“The progressive decline in exports is a consequence of the moratorium on import of raw materials and essential spare parts, lack of adequate supply of energy at competitive prices and failure of the sales tax refund system, all have contributed significantly to the closure of over 50% of industry.
“Given the trajectory of decline, Pakistan is likely to fall short by $3 billion in textile exports from the exports achieved last year of $19.4 billion without taking into account any increase from newly installed capacity,” warned Ejaz.
APTMA also called for the implementation of a uniform gas price of $7 per MMBtu for the export industry across the country.
It urged the authorities to restore SRO 1125, Zero rating for the textile value chain while collecting sales tax on domestic sales at the point of sale, and immediately refund all sales tax, tuff and other dues.
Ejaz further said that the Export Oriented Sectors should be allowed to open Letters of Credit without hindrance for raw material machinery, spare parts and other items to restore the industry’s supply line.
The letter comes as Pakistan’s economy is in dire straits, stricken by a balance-of-payments crisis as it attempts to service high levels of external debt amid political chaos and deteriorating security.
Inflation has skyrocketed, while the rupee has plummeted and the country continues to face a shortage of US dollar, which leaves little space for imports, causing a severe decline in industry.
Meanwhile, the APTMA chief in his letter urged the authorities to clear all imports of the Export Oriented sector.
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May 3, 2023
Pakistan’s textile sector exports witnessed a significant decline of 29%, clocking in at $1.24 billion in April 2023 compared to $1.74 billion recorded in the same month of previous year, showed provisional data released by the All Pakistan Textile Mills Association (APTMA) on Tuesday.
Data showed the country’s textile exports in the first ten months of FY23 decreased by 14% to $13.71 billion from $15.97 billion a year earlier.
The decline in textile exports, a crucial industrial sector of Pakistan, has raised concerns for the South Asian economy, which is dealing with low foreign exchange reserves.
Forex reserves held by the State Bank of Pakistan (SBP) are tre
Pakistan’s textile exports plunge 29% year-on-year in April
- Amount to $1.24bn during last month, according to provisional data released by APTMA
May 3, 2023
Pakistan’s textile sector exports witnessed a significant decline of 29%, clocking in at $1.24 billion in April 2023 compared to $1.74 billion recorded in the same month of previous year, showed provisional data released by the All Pakistan Textile Mills Association (APTMA) on Tuesday.
Data showed the country’s textile exports in the first ten months of FY23 decreased by 14% to $13.71 billion from $15.97 billion a year earlier.
The decline in textile exports, a crucial industrial sector of Pakistan, has raised concerns for the South Asian economy, which is dealing with low foreign exchange reserves.
Forex reserves held by the State Bank of Pakistan (SBP) are tre
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May 21, 2023
ISLAMABAD: The country’s textile group exports declined by around 14.22 per cent during the first 10 months (July-April) of the current fiscal year 2022-23 and remained at $13.709 billion as compared to $15.981 billion during the same period of last year, the Pakistan Bureau of Statistics (PBS) said.
The data of exports and imports released by PBS revealed that the country’s textile group exports witnessed a decline of 29.11 per cent in April 2023 on a year-on-year basis and remained at $1.232 billion when compared to $1.739 billion during the same month of last year.
On a month-on-month (MoM) basis, textile group registered 1.99 per cent negative growth compared to $1.257 billion in March 2023. Cotton yarn exports registered 36.71 per cent negative growth in July-April and remained $636.831 million compared to $1.006 billion during the same period of the last year. On a year-on-year basis, cotton yarn exports registered 34.72 per cent negative growth, while on a MoM basis, it registered 6.35 per cent negative growth.
Rice exports declined by 11.17 per cent during the first ten months of 2022-23 and remained $1.822 billion compared to $2.052 billion during the same period of the last fiscal year.
The country’s exports during July–April 2022-2023 totalled $23.181 billion (provisional) against $26.247 billion during the corresponding period of last year showing a decrease of 11.68 per cent. The exports in April 2023 were $2.137 billion (provisional) as compared to $2.372 billion in March 2023 showing a decrease of 9.91 per cent and by 26.23 per cent as compared to $2.897 billion in April, 2022.
Main commodities of exports during April 2023 were knitwear (Rs91,685 million), readymade garments (Rs70,504 million), bedwear (Rs62,129 million), rice others (Rs45,153 million), cotton cloth (Rs41,799 million), towels (Rs22,679 million), rice basmati (Rs18,634 million), cotton yarn (Rs18,165 million), fish and fish preparations (Rs14,547 million), and madeup articles (excluding towels and bedwear) (Rs14,344 million).
July-April: Textile group exports dip 14pc to $13.7bn YoY
- Textile group exports witnessed a decline of 29.11 percent in April 2023 on a year-on-year basis
May 21, 2023
ISLAMABAD: The country’s textile group exports declined by around 14.22 per cent during the first 10 months (July-April) of the current fiscal year 2022-23 and remained at $13.709 billion as compared to $15.981 billion during the same period of last year, the Pakistan Bureau of Statistics (PBS) said.
The data of exports and imports released by PBS revealed that the country’s textile group exports witnessed a decline of 29.11 per cent in April 2023 on a year-on-year basis and remained at $1.232 billion when compared to $1.739 billion during the same month of last year.
On a month-on-month (MoM) basis, textile group registered 1.99 per cent negative growth compared to $1.257 billion in March 2023. Cotton yarn exports registered 36.71 per cent negative growth in July-April and remained $636.831 million compared to $1.006 billion during the same period of the last year. On a year-on-year basis, cotton yarn exports registered 34.72 per cent negative growth, while on a MoM basis, it registered 6.35 per cent negative growth.
Rice exports declined by 11.17 per cent during the first ten months of 2022-23 and remained $1.822 billion compared to $2.052 billion during the same period of the last fiscal year.
The country’s exports during July–April 2022-2023 totalled $23.181 billion (provisional) against $26.247 billion during the corresponding period of last year showing a decrease of 11.68 per cent. The exports in April 2023 were $2.137 billion (provisional) as compared to $2.372 billion in March 2023 showing a decrease of 9.91 per cent and by 26.23 per cent as compared to $2.897 billion in April, 2022.
Main commodities of exports during April 2023 were knitwear (Rs91,685 million), readymade garments (Rs70,504 million), bedwear (Rs62,129 million), rice others (Rs45,153 million), cotton cloth (Rs41,799 million), towels (Rs22,679 million), rice basmati (Rs18,634 million), cotton yarn (Rs18,165 million), fish and fish preparations (Rs14,547 million), and madeup articles (excluding towels and bedwear) (Rs14,344 million).
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