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LAHORE - The textile exports will be doubled from $13 billion to $26 billion in next five years by revival of the existing potential of textile industry.
Pakistan is exporting 21 per cent cotton cloth and cotton yarn as semi raw material, and if converted to garments, the total value comes around $8 billion. There is a potential of $8 billion by converting basic textile into clothing and the industry is also upbeat to undertake expansions and green filed investment initiatives. This was stated by APTMA Punjab chairman SM Tanveer while delivering welcome address to the delegation of National Management College, led by Dr Nail a Zafar, Faculty Advisor. He said Aptma was trying to encourage the whole value chain to avail the opportunity of GSP plus status from the EU. He said both Japan and China have built up their economies on textile and Pakistan can also capitalise on the same account. He said China was becoming expensive and Pakistan will gain in the international market through market access from the EU. He said APTMA was planning road shows world over, and the initiative has been kick started by holding textile and clothing show in Lahore. Chairman APTMA said the textile industry was getting a combination of electricity and gas supplies, and if the government keeps textile industry on priority, it can excel further. On trade with India, he said, the value added sector should be made creative before free trade with India. We cannot compete against state subsidies, he added. According to him, there was also big gap in the energy cost of the textile industry in two countries. He urged the government to remove inter province disparity on energy supplies. S M Tanveer expressed the hope that the government would take concrete measures on textile industry issues including energy, investment climate, high markup rate, and environment conducive to JVs with China. Energy cost is burdening the industry. He said the administrative control of Pakistan Central Cotton Committee (PCCC) should also be given back to the APTMA. On a question relating to the coal based power plants, he said, the cost of transportation was very high, therefore, it is not possible immediately.
He said the government had formulated textile policy in isolation and concession were held back after six months of the announcement. Therefore, the textile policy could not take off from day one.
On FTAs and PTA, he said they were politically motivated and no actual advantages could be reaped till date.
Textile exports to be double in 5 years
Pakistan is exporting 21 per cent cotton cloth and cotton yarn as semi raw material, and if converted to garments, the total value comes around $8 billion. There is a potential of $8 billion by converting basic textile into clothing and the industry is also upbeat to undertake expansions and green filed investment initiatives. This was stated by APTMA Punjab chairman SM Tanveer while delivering welcome address to the delegation of National Management College, led by Dr Nail a Zafar, Faculty Advisor. He said Aptma was trying to encourage the whole value chain to avail the opportunity of GSP plus status from the EU. He said both Japan and China have built up their economies on textile and Pakistan can also capitalise on the same account. He said China was becoming expensive and Pakistan will gain in the international market through market access from the EU. He said APTMA was planning road shows world over, and the initiative has been kick started by holding textile and clothing show in Lahore. Chairman APTMA said the textile industry was getting a combination of electricity and gas supplies, and if the government keeps textile industry on priority, it can excel further. On trade with India, he said, the value added sector should be made creative before free trade with India. We cannot compete against state subsidies, he added. According to him, there was also big gap in the energy cost of the textile industry in two countries. He urged the government to remove inter province disparity on energy supplies. S M Tanveer expressed the hope that the government would take concrete measures on textile industry issues including energy, investment climate, high markup rate, and environment conducive to JVs with China. Energy cost is burdening the industry. He said the administrative control of Pakistan Central Cotton Committee (PCCC) should also be given back to the APTMA. On a question relating to the coal based power plants, he said, the cost of transportation was very high, therefore, it is not possible immediately.
He said the government had formulated textile policy in isolation and concession were held back after six months of the announcement. Therefore, the textile policy could not take off from day one.
On FTAs and PTA, he said they were politically motivated and no actual advantages could be reaped till date.
Textile exports to be double in 5 years
