Pakistan textile exports witnessed plunge of 6.38 percent in December 2014 despite the availability of GSP Plus scheme. The major factors behind the substantial drop in exports are energy shortage and lack of working capital.
According to the Pakistan Textile Exporters Association (PTEA) details, the country exported textile goods worth $1.175 billion in December against exports of $1.255 billion in the same month of previous year.
Value-added items also recorded a negative growth as cotton cloth exports declined by 13.62%, bed wear 11.54%, towels 11.39% and made-ups 10.04%.
PTEA Chairman Sohail Pasha and Vice Chairman Rizwan Riaz apprehended that export numbers might be even worse in coming months as the textile industry of Punjab has been deprived of basic fuel and working capital.
Energy shortage and liquidity crunch are the prime causes of the decline as a major part of production capacity of the textile industry is lying idle due to short supply of electricity and gas.
Due to the non-serious attitude of the government, exports are heading towards collapse after a visible decline.
Avantium has made a major breakthrough in textile recycling, developing a unique method to separate and reuse both cotton and…
Ventile has teamed up with Norwegian brand Northern Playground to introduce a new lightweight anorak designed for both outdoor adventures…
Faherty Brand has announced a new collaboration with Alternew to improve the shopping experience by offering convenient alteration services to…
GFA and PDS Ventures are searching for early-stage innovators with sustainable solutions that can transform the fashion and textile supply…
Ambercycle has partnered with Benma, a Chinese sustainability solutions provider, to accelerate circularity in textiles through the production of cycora…
A trade delegation from the Netherlands will visit Bangladesh from February 10th to 13th, 2025, as part of the Netherlands…