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AlKaram Textile Gets 6-Year Export Order for US Brand Gap Inc.

Zaki

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Very glad to hear that, I personally buy a lot of stuff from GAP, it's a very good brand

Pakistan's textile industry is thriving but there might be some negative impact in the near future as Acadia Group is falling and I have seen them importing a lot of stuff from Pakistan especially TopShop used to import Jeans and trousers from Pakistan and Turkey and vests and shirts from Bangladesh and being a big brand with large sale volumes it's not a good news for Pakistan, Bangladesh, China and Turkey
 

Areesh

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Hahaha ... Change is in the wind. Even @Areesh is acknowledging the achievement of PTI.

Furthermore it is also a testament to flawed ishaq dar policy of keeping the exchange rate low which i was mentioning about since last 5 years atleast.
I don't support any politician blindly

I criticize PTI for its failure to serve and help Karachi but would appreciate if it manages to do something good
 

The Accountant

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I don't support any politician blindly

I criticize PTI for its failure to serve and help Karachi but would appreciate if it manages to do something good
That's the right approach. We should all be like this. IK is not an angel and free from mistake.

The only benefit of doubt we can give to IK is the fact that Pakistan has structural weaknesses created in 5 decades in order strengthen the rule of 2 families as well as military dictators and it will take time to make alteration in structure and result of these alteration might take even more time.

The real difference we might see in a decades time.

For example India start restructuring in 1992 and got the difference in the current decade similarly china started in late 80s.

However we keep on keeping the check on government to ensure that direction is right
 

Patriot forever

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This deal alone has the potential to add at least half a billion dollars in exports.
Indeed a positive development. Encouraging in a sense that if Al karam can do it so can other textile exporters, signifies that indeed we have made a great progress in improving export competitiveness.
 

mourning sage

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It could be long lasting only if we diversify our exports.

Textile export is a very competitive market. What actually happen is due to reduction in exchange rate Pakistani products become cheaper. In simple terms u can imagine the labor cost per unit to export customer has decreased from 160 dollars to 100 dollars. (Salaries in pkr are same but have actually reduced in dollar terms and so are the other expenses). Increase in export can be done this way but our people will get low paid salaries as the moment we increase salary we will become expensive again.

In short term and medium term we need jobs and exports so this strategy will work very well but we need to create value added export goods for uplifting per capita income of our people.

Government is targeting engineering goods and software but efforts r also required from private sector.
Government just needs to create an enabling environment, the private sector will eventually take the cue. Understand that Economics works with a serious lag. The negative impacts of any policy decision are quick to present themselves - decreasing policy rates will immediately lead to inflation; however, the increase in borrowing, setting up of new industry, initiating manufacturing, earning foreign currency and creating jobs will start several months and years after the policy rates stabilise at a low rate.

Focus on IT is a particularly good step as it can boost exports almost instantaneously and provide quick employment opportunities.

Diversification, while an extremely important aspect of a mature stable economy, is exactly that, an aspect of a mature and stable economy. A country like Pakistan struggling to make ends meet can not focus on diversification. The opportunity cost of diverting funding from prime earning sources like agriculture and textile will lead to an immediate drop in our exports in the short run.

IK needs to set up 5 year and 10 year development plans. Systematic restructuring of economy will take a lot of time and effort. Rushing into is not going to produce results.
 

Morpheus

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Government just needs to create an enabling environment, the private sector will eventually take the cue. Understand that Economics works with a serious lag. The negative impacts of any policy decision are quick to present themselves - decreasing policy rates will immediately lead to inflation; however, the increase in borrowing, setting up of new industry, initiating manufacturing, earning foreign currency and creating jobs will start several months and years after the policy rates stabilise at a low rate.

Focus on IT is a particularly good step as it can boost exports almost instantaneously and provide quick employment opportunities.

Diversification, while an extremely important aspect of a mature stable economy, is exactly that, an aspect of a mature and stable economy. A country like Pakistan struggling to make ends meet can not focus on diversification. The opportunity cost of diverting funding from prime earning sources like agriculture and textile will lead to an immediate drop in our exports in the short run.

IK needs to set up 5 year and 10 year development plans. Systematic restructuring of economy will take a lot of time and effort. Rushing into is not going to produce results.
Government did. They are about to roll out a incentive for the IT sector.

 

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