Musharraf Era Textile Boom Returning to Pakistan?

[RiazHaq]

Musharraf Era Textile Boom Returning to Pakistan?

Pakistan textile industry is booming with exports soaring 27% to more than $6 billion in the first four months (July-October) of the current...

www.southasiainvestor.com

Pakistan textile industry is booming with exports soaring 27% to more than $6 billion in the first four months (July-October) of the current fiscal year. “We believe that $5 billion investment (in textile industry) in the Musharraf era would be matched in the next six to eight months” says Zubair Motiwala, a leading textile industrialist and chairman of Businessmen Group (BMG), according to media reports.

Pakistan Textile Exports FY 2006-2021. Source: APTMA

Pakistani government officials report that the textile sector has invested $3-3.5 billion on modernization and expansion in the last 2-3 years and the investment is likely to match the $5 billion that was witnessed during Musharraf era when the sector was undergoing major modernization, balancing and replacement (BMR). Textile machinery imports jumped 110% in the last four months, according to the Pakistan Bureau of Statistics (PBS). Capital equipment imports are contributing to Pakistan's widening trade gap.

All sectors of the textile industry from yarn to fabric to ready-made garments are experiencing double digit growth. Ready-made garments exports jumped 22.34% during July-Oct 2021, knitwear exports soared 35.45%, bed-wear posted positive growth of 21.30%, towel exports were up by 14.17%, cotton cloth rose 18.54%. Among primary commodities, cotton yarn exports surged by 71.39%, while yarn other than cotton by 114%. The export of made-up articles — excluding towels — rose by 11.55%, and tents, canvas and tarpaulin dipped by a massive 23.98% during the 4-month period.

The textile industry is very important for Pakistan's economy. It is a very large employer and contributes nearly 10% of GDP. Textile exports account for more than half of Pakistan's exports. Textile boom is good news for the country's economy.

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Musharraf Era Textile Boom Returning to Pakistan?

Pakistan textile industry is booming with exports soaring 27% to more than $6 billion in the first four months (July-October) of the current...

www.southasiainvestor.com

 

[S.Y.A]

not until local industrialists adopt new technologies and global best practices, and at the same time setting up more units.

 

[Nefarious]

Who else bought jeans lately and found out they're made in Pakistan? Haven't seen that for years

 

[Vapnope]

Closing of factories elsewhere during covid came as a help in disguise for Pakistani textile and orders are line up for fy 22. All we need is to improve our quality and maintain a good delivery system so that buyers do not go back to their original vendors. Pakistani textile can reach its true potential if quality and delivery is maintained.

 

[mudas777]

Good practices, modern machinery and trained wok force is a must for any industry. We need to make baby steps in home appliances too as that's where money is in export market apart from IT, Automobiles, electronics and chemicals.

 

[ziaulislam]

Fake news
Govt has destroyed pakistan..

 

[denel]

Good practices, modern machinery and trained wok force is a must for any industry. We need to make baby steps in home appliances too as that's where money is in export market apart from IT, Automobiles, electronics and chemicals.

Correct.... this is what we are trying to tell our politicians as well.

Especially now we see how supply chains have been affected and importation from East asia decimated our local textile industry. It is a one way traffic with no benefit to local economy from manufacturing to supporting parts industry as well.

Make local, buy local; put heavy heavy tarrifs on any import that can be done locally.

 

[Enigma SIG]

Fake news
Govt has destroyed pakistan..

Yes. Nawaz was trying to mend ties with Bangladesh so he shut down textile industry here.

 

[Sulman Badshah]

This year cotton got bumper crop with 6.8 M bails.

Moreover, 100 new Textile related Factories worth 5 B USD are under construction (which will impact a handsome amount in our export)

 

[StormBreaker]

This year cotton got bumper crop with 6.8 M bails.

Moreover, 100 new Textile related Factories worth 5 B USD are under construction (which will impact a handsome amount in our export)

Bro, “Under construction” has got nothing to do with increasing export capacity.

I am in the industry and know very well how much IK’s ft FBR’s policies have impacted the textile industry ever since 2019.

Many big names have cut down their workforce to less than 50% ever since and nothing is sustainable

 

[Sulman Badshah]

Bro, “Under construction” has got nothing to do with increasing export capacity.

I am in the industry and know very well how much IK’s ft FBR’s policies have impacted the textile industry ever since 2019.

Many big names have cut down their workforce to less than 50% ever since and nothing is sustainable

Obviously, investors are not investing in textile to meet the local demand (which is already been met), they are investing in it to amplify there foreign orders further

To increase the exports, maximum production capacity needed to be enhanced further (as we are already running on full potential)

 

[AZADPAKISTAN2009]

Thank you Prime Minister Imran Khan and your Team , one more broken segment of Pakistan fixed

> Pakistan Post (Operational and functional now)

> Pakistan Railways (Operational and functional now)

> Textile Industry (Operational and functional and Huge Profits, Yuge Profits)

> Karachi KCR (Operational and Running certain % of full track)

> Pakistan Election (Bills passed Machines introduced no more purchi bazi and sale of votes)

> Auction and Sale of Tax Defaulter property and Political Criminal (Coming Soon)

 

[ziaulislam]

Yes. Nawaz was trying to mend ties with Bangladesh so he shut down textile industry here.

Current export rise is temporary due to covid
Otherwise we were doing great in nawaz sharif era
We will mashallah become asian tiger like lebanon by focusing on services sector

https://www.facebook.com/video.php?v=302906498181293

 

[mudas777]

Yes. Nawaz was trying to mend ties with Bangladesh so he shut down textile industry here.

I hate Nawaz with passion along side Zardari how they robbed our country. But this sin I won't put it in the Nawaz basket as we were short of electricity and industrialists kept on warning government that if government don't move at that front they will move units elsewhere and eventually they did to the Bangladesh.
Our country need to set up industrial zones with all the required facilities without any interruption so industry can perform. We can't even provide gas and LNG to the ordinary people of Pakistan and comical handling is all to see. Imagine if some one have set up a industrial unit with the good money and the unit can't even open its door due to the gas or power shortage and still he have to pay to the labours, does it makes any sense. All our politician's want to make Pakistan like Paris and London but no one wants to do the walk the walk.

 

[S.Y.A]

> Pakistan Railways (Operational and functional now)

nope. railways went downhill after khwaja saad rafiq. i dont like pmln, but that era was better. nowadays, every train is running late, even expensive trains like green line, are dirty and without maintenance. 3 hours delay is nothing. sheikh rasheed successfully managed to drag railways back.

> Karachi KCR (Operational and Running certain % of full track)

this isnt an achievement of federal govt, it was made possible by constant monitoring of situation by justice saqib nisar and justice gulzar.