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Related Keywords: barriers to MMF textile imports, bring share in international market down, diversification to explore new exports avenue, facing liquidity crunch, fails to invest in modernization, lack of product diversity, Pakistan local textile industry, textile exports plunged, total exports in current fiscal down, unable to benefit from GSP plus status

As Pakistan’s local textile industry fails to invest in its modernization, lack of product diversity and diversification to explore new exports avenue, bringing it’s share in the international market down which has affected textile exports. In the first 10 months of the current fiscal year, textile exports has plunged by 7.72 percent to $10.395 billion, as per official data.

The Pakistan Bureau of Statistics (PBS) data showed that textile exports fetched $11.26 billion in the July-April period of the last fiscal year.

Related Keywords: Acting Chairman, announce the remaining part of the textile package, APTMA, badly affected, by surge in import of man made fobre yarn, competitors of Pakistan textile industry, fabrics, Pakistan is facing highest energy cost, Pakistan local textile industry, producing at comparatively lower energy cost, safeguar domestic industry, Shahid Mazhar

Pakistan local textile industry badly affected by the surge in import of man-made fibre (MMF) yarns, including polyester, acrylic and fabric, in the domestic commerce. The import of MMF yarns has surged to 72,300 tonnes in 2014-15 against 47,700 tonnes in 2012-13. Similarly, the import of fabric made from MMF yarns has also reached to 562,000 square metres in 2014-15 against 180,000 square metres in 2012-13, according to the Acting Chairman Shahid Mazhar of All Pakistan Textile Mills Association (APTMA) Acting Chairman Shahid Mazhar.