FAISALABAD: Pakistan Yarn Merchants Association (PYMA) expressing concern over the declining trend in textile exports demanded of the government to take immediate remedial measure to arrest this shortfall.
The major reason behind this decline was severe shortfall in supply of electricity and gas to the industry while law and order situation also played its role.
PYMA Chairman Abaidullah Sheikh on Saturday said in July 2014 export of cotton yarn has declined by 35.32 percent, cotton cloth 8.13 percent, art silk 12.64 percent, textile made ups 5.59 percent and other textile material by 14.40 percent. The overall decline in exports stood at 2.37 percent in July 2014.
He said in July 2013 textile exports were $1.19 billions where as in July 2014 it was $1.16 billion.
He said in July 2014 due to Ramazan the government reduced electricity supply to industry for the sake of fast observers and the supply of electricity was cut down to 4 hours a day only.
The government had promised to restore the supply to industry by the end of Ramazan and review the situation byJuly 20. However due to recent agitational politics the supply was not restored. Resultantly the textile industry was facing severe load shedding and overall productivity has plunged by 50 percent. Export orders are not coming. Foreign buyers and investors are hesitant to come over to Pakistan.
Sheikh expressed apprehension if the current state of uncertainty continued there would be further decline in August 2014. He demanded of the government to immediately increased energy supply to textile industry to enable it to maximise its productivity.
ISLAMABAD – The Ministry of Petroleum and Natural Resources on Thursday signed 70 ...