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Textile exports down 12pc - Newspaper - DAWN.COM
ISLAMABAD: Exports of textile and clothing witnessed a sharp decline of 11.79 per cent to $1.025 billion in the first month of this fiscal year from $1.162bn in the same month last year, suggested data of Pakistan Bureau of Statistics on Friday.
Exports of value-added textile products recorded a 7.5pc increase to $4.517bn in 2014-15 as compared to $4.202bn in the preceding year.
Readymade garment exports declined by 0.68pc, while that of knitwear fell by 8.20pc during the month under review.
The exports dipped despite the fact that GSP+ provides zero duty access to European markets.
The government paid an amount of Rs6bn last year to support the value-added textile sector. It has also implemented a five-year textile policy from July 2015, which is laden with incentives for the sector.
The textile package of Rs40.6bn would require a firm commitment from the finance ministry and other relevant authorities. Infrastructure development projects worth Rs23bn envisaged in the policy will need a nod from the Planning Commission, which would not be an easy task.
The government, in the textile policy 2009-2014, announced Rs188bn but released just Rs28bn.
According to the latest policy, the incremental drawback would encourage value-addition because enhanced exports at 4pc of freight on board to woven and knit garments, 2pc to made-ups and 1pc for processed fabrics.
Similarly, the announcement of deemed import basis for Polyester Staple Fibre would enhance man-made fibre content in export products.
The world is continuously shifting from cotton to man-made fibre and the ratio has been reversed from 60-40 to 40-60 within 10 years.
In Pakistan, the ratio is 86-14, which is quite low as per international demands.
Imports of textile machinery also declined by around 18pc during the month, suggesting a lack of interest in diversification or improving the products quality.
Exports of cotton yarn registered negative growth of 12.54pc, bedwear declined by 21pc, towels 9pc, and made-ups by 3pc during the month.
Contrary to this, exports of cotton carded were up by 100pc, other textile materials by 10pc, and raw cotton by 67.73pc. However, export of tents, canvas was dipped by 13pc during the month.
OIL AND EATABLES: Import bill of these two products declined by 17.46pc to $1.016bn in July 2015-16 from $1.231bn in the same month last year. The import bill of food products declined by 4.78pc to $335.343 million from $320.048m.
The imports mainly comprised of tea, spices, sugar, soybean oil and pulses.
Oil import bill also fell by 25.27pc to $681.433m in July 2015 from $911.894m in the same month last year.
Published in Dawn, August 22nd, 2015
ISLAMABAD: Exports of textile and clothing witnessed a sharp decline of 11.79 per cent to $1.025 billion in the first month of this fiscal year from $1.162bn in the same month last year, suggested data of Pakistan Bureau of Statistics on Friday.
Exports of value-added textile products recorded a 7.5pc increase to $4.517bn in 2014-15 as compared to $4.202bn in the preceding year.
Readymade garment exports declined by 0.68pc, while that of knitwear fell by 8.20pc during the month under review.
The exports dipped despite the fact that GSP+ provides zero duty access to European markets.
The government paid an amount of Rs6bn last year to support the value-added textile sector. It has also implemented a five-year textile policy from July 2015, which is laden with incentives for the sector.
The textile package of Rs40.6bn would require a firm commitment from the finance ministry and other relevant authorities. Infrastructure development projects worth Rs23bn envisaged in the policy will need a nod from the Planning Commission, which would not be an easy task.
The government, in the textile policy 2009-2014, announced Rs188bn but released just Rs28bn.
According to the latest policy, the incremental drawback would encourage value-addition because enhanced exports at 4pc of freight on board to woven and knit garments, 2pc to made-ups and 1pc for processed fabrics.
Similarly, the announcement of deemed import basis for Polyester Staple Fibre would enhance man-made fibre content in export products.
The world is continuously shifting from cotton to man-made fibre and the ratio has been reversed from 60-40 to 40-60 within 10 years.
In Pakistan, the ratio is 86-14, which is quite low as per international demands.
Imports of textile machinery also declined by around 18pc during the month, suggesting a lack of interest in diversification or improving the products quality.
Exports of cotton yarn registered negative growth of 12.54pc, bedwear declined by 21pc, towels 9pc, and made-ups by 3pc during the month.
Contrary to this, exports of cotton carded were up by 100pc, other textile materials by 10pc, and raw cotton by 67.73pc. However, export of tents, canvas was dipped by 13pc during the month.
OIL AND EATABLES: Import bill of these two products declined by 17.46pc to $1.016bn in July 2015-16 from $1.231bn in the same month last year. The import bill of food products declined by 4.78pc to $335.343 million from $320.048m.
The imports mainly comprised of tea, spices, sugar, soybean oil and pulses.
Oil import bill also fell by 25.27pc to $681.433m in July 2015 from $911.894m in the same month last year.
Published in Dawn, August 22nd, 2015
which is the need of the hour everything else is secondary...Metro will put us up on the development chain!
