‘Textile industry to double exports in four years’

LAHORE: Pakistan is the most efficient value-added textile chain supplier in the world after China, said Amir Fayyaz, who heads the All Pakistan Textile Mills Association (APTMA) committee on international trade.

 

Addressing an APTMA luncheon, Fayyaz said the Pakistani textile industry has shown its resilience through 30 percent export growth during an economic and energy crisis. “We now see new opportunities knocking at our doors including the expected GSP-Plus status from the European Union and a receptive government,” he said.

 

Fayyaz went on to add that the rising cost of production in China is making it no longer feasible for the Chinese to produce some textile products. “A Chinese delegation that recently visited Pakistan told APTMA members that Chinese textile exports declined by $30 billion last year from $300 billion to $270 billion,” he said, adding that most of the lost share was captured by Bangladesh, Vietnam, Sri Lanka and Cambodia. The major reason for this transfer of market was that these countries enjoy zero-rated facility on their exports.

 

The APTMA official said that Pakistan is closer than ever before to secure the GSP-Plus status as the European Commission’s technical team has given a positive evaluation on Pakistan’s application. Pakistan is all set to double its textile exports in the next four years from $13.1 billion to $26 billion. This is an achievable target as the government has guaranteed uninterrupted power to the sector, he said.

 

“It will resolve most of our economic issues besides creating 10 million jobs in the textile sector alone in the next four years,” said Fayyaz, adding that APTMA is making all-out efforts to soften the image of the country in international markets, including numerous road shows in the EU, US to attract foreign buyers.

 

EU ambassadors have informed APTMA that an EU textile stakeholders’ delegation would be visiting Pakistan in December this year. APTMA has arranged a fashion show in Lahore for the delegation, he added.

 

APTMA Punjab Chairman S M Tanveer said the government seemed committed to addressing issues faced by the textile industry. “The association has accepted high rates of power on assurances that the power tariff would be brought back in line with global levels after restructuring.”

 

Tanveer went on to add that the industry appreciates the efforts of the present regime to eliminate power theft and improve efficiencies in the system.

 

“The Chinese have shown their interest in establishing value-added garment units in the country,” said Tanveer, adding that Punjab’s chief minister has assured his support to the Chinese in this regard.

 

APTMA group leader Gohar Ejaz said the association supports a free market for all textile products. “We do not want any subsidies or government concessions but only a level-playing field,” Ejaz said, adding that lower interest rates and heavy investments would enable the industry to compete with regional countries.

Source: The NEWS

 

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