The Pakistani textile industry constitutes a large share of Pakistani exports and with better access to the EU market; Pakistan is expecting to achieve $14.5 billion of textile exports by the end of fiscal year 2014.
Rise in cotton price resulted in a decline in its trading activities at cotton markets in Pakistan. The trade turnover of cotton fell to 2,500 bales (155 kilograms) after the price of the commodity surged above Rs7,300 per maund (37.324 kilograms) at the local markets, a dealer said on Thursday.
The spinning mill-owners opted to wait for a decline in the commodity price to make considerable buying. The situation resulted in low trade.
The Cabinet Committee on Economic Affairs has approved the continuation of the Mill Gate Price Scheme (MGPS) along with 10 percent subsidy component with modifications. The scheme is now renamed as the Yarn Supply Scheme (YSS).
The plan outlay for YSS during the 12th Plan will be Rs.443 crore.
The scheme will cover the weavers who are under privileged as also vulnerable groups, by providing them subsidized yarn so that they can compete with the powerloom and mill sector. The target for the 12th Plan will be to supply 3506 lakh kg yarn worth Rs.4364 crore.
The apprehension of a change in definition of ‘handloom’ has triggered speculation and insecurity amongst a section of weavers and handloom activities and given a mistaken impression on handloom activists that Government has taken a decision to allow the introduction of automatic machines to replace handlooms and that the Government intends to change the definition of ‘handlooms to include such mechanized looms’.
The Cotton Crop Assessment Committee (CCAC) after several revisions had finally set a target of 12.36 million bales for 2013-2014. However, the current production statistics depict that cotton output will be higher than last year's. The country's cotton output is likely to surpass 13 million bales mark against last year's production of 12.9 million bales. The final production report will be issued by Pakistan Cotton Ginners Association (PCGA) in mid March.
Anglo French Textile mill, a century old mill to reopen on February 12, after having received assurance from workers for complete cooperation which has remained closed for more than a year now for increased debt burden and want of funds for investment and difficulty in raising bank loans for its rehabilitation.
V Bhalan, Chairman of Puducherry Textiles Corporation, said that as a prelude to restarting the mill, maintenance works in all its three units would be taken up on January 23 and subsequently in the next fifteen days the units would recommence operation in a phased manner.
A new program is put together by the cotton industry on the core principle that cotton growing is consistent with sustainability, the use of best practice and traceability in the supply chain, was put across by Adam Kay CEO of Cotton Australia and Mark Messura from Cotton International.
They want to convince cotton users that they should be confident that the raw material is responsibly produced and identified.
Unlike the bad old days, cotton growing now uses 40 per cent less water, 90 per cent less insecticide and 30 per cent less land is required to grow the same amount of cotton.
The Chinese Group, Shandong Ruvi Group is set to invest up to $2 billion in garments and textile sectors in Punjab for which the Chief Minister Muhammad Shahabz Sharif has assured the Group to provide it all possible incentives and protection of investment anywhere in the country.
The agreement was reached during meeting which the delegation of Shandong Ruyi Group of China held with Chief Minister Muhammad Shahbaz Sharif here on Wednesday. The delegation included Chairman of Group Yafu Qiu, Vice Chairman Ms Weiying Sun, Vice President Jerry Liu and other office-bearers.
Nan Liu Enterprise Co, Nonwoven manufacturer expects 23 percent growth in revenue this year with higher utilization rate at its Zhejiang factory in China. Last year it recorded the NT$4.57 billion (US$152 million).
Chuang Chun-chin, a finance manager at the Greater Kaohsiung-based company, said that their revenue will reach a higher level this year because of a series of capacity expansions in the second half of last year.
The utilization rate of their new capacity will be at its highest in the second quarter.
The first ramie variety of fibre developed in Assam being named after its legendary singer late Bhupen Hazarika. His name will now have a textile connection too.
This is the first variety developed by Ramie Research Station, which was established at Barpeta district more than five-and-a-half decades ago. The research station is a sub-station of the Central Research Institute for Jute and Allied Fibres, Barrackpore, West Bengal.
