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Related Keywords: Faisalabad, garment and textile industry, health, ILO, improve industrial relation, nature of employment, occupational safety, Pakistan textile industry, promote decent work environment, PTEA, sign agreement, training, wage

Pakistan Textile Exporters Association (PTEA) to promote decent work environment in the garment and textile industry in Faisalabad have signed an agreement with the International Labour Organisation (ILO).

The agreement includes a framework on improving industrial relations through training and compliance with international labour standards including occupational safety and health, wages, nature of employment, discrimination and other forms of mal-practices.

Related Keywords: cotton consumption, cotton prices, cotton stocks, Karachi Cotton Association, Pakistan textile industry, Spinners

Strong buying from spinners and some exporter moved up cotton prices by Rs50 to Rs100 on Thursday at the Pakistan cotton market. Many millers
rushed to replenish their stocks at current price level in the wake of higher cotton consumption figures released by the ginners’ body.

Much of the activity, however, remained confined to quality lint. As the current season is drawing to a close, quality lint is in shortage, hence expensive.

Related Keywords: better cotton for value-added sector, comprehensive strategy, formulation of a new policy, increase cotton based textile exports, Pakistan textile industry, restructuring of institutions, strong fibre base, textile value chain

Currently in Pakistan there is a strong fibre base of 13 million bales of cotton which is almost stagnant for the past few years. To increase cotton based textile exports in the next five years, Pakistan textile industry has planned out a comprehensive strategy.

The proposed new measures include formulation of a new policy as well as restructuring of institutions dealing with cotton to promote availability of better cotton for the value-added sector in the textile value chain.

Related Keywords: cash crunch, drawback on local taxes and levies, Federal Board of Revenue, Pakistan textile industry, Pakistan value-added textile sector, payable to exporters, PRGMEA, sales taxes, textile export

Pakistan value-added textile sector hamstrung by cash crunch as more than Rs 205 billion refunds has been stuck up with the government. Federal Board of Revenue (FBR) still withholds more than Rs 13 billion under Drawback on Local Taxes and Levies (DLTL) claims and about Rs 17 billion sales taxes under refund claims, causing immense problems to the textile industry, according to Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA).

Related Keywords: All Pakistan Textile Mills Association, bring down inflation rate, interest rate cut, LCCI, longstanding demand, Pakistan textile industry, State Bank of Pakistan, stimulate private sector growth

The longstanding demand of the Lahore Chamber of Commerce and Industry (LCCI) that the mark-up rate should be at the lowest to provide some breathing space to industries has been taken care of with the State Bank of Pakistan’s (SBP) decision to cut the interest rate by 100 basis points – from 9.5% to 8.5% which will not only help stimulate private sector growth but also bring down the inflation rate according to them.

Related Keywords: Buyers Meeting, collaborate, economic growth, employment, global buyers, GSP Plus status, IFC, ILO, improving productivity, international bodies, Netherland, Pakistan textile industry, practice in textile industry, technical assistance, uphold international standard

Pakistan understanding the importance of garment and textile industry to its economic growth, and the employment it create for its people which reduces poverty for millions of workers. Pakistan and the Netherlands along with other international bodies have collaborated to uphold international standards and practices in textile and garment industry.

In this regard, the first buyers’ meeting was held in Pakistan on December 15-16 with the support of the International Labour Organisation (ILO) and the International Finance Corporation (IFC).

Related Keywords: China Free Trade Agreement, clothing and textiles, export to EU, GSP Plus status, home textile sector, Pakistan textile export, Pakistan textile industry

Pakistan textile remained the major beneficiary of the Generalized Scheme of Preferences (GSP) Plus arrangement. During January-April 2014, Pakistan textile exports to the EU increased to $1.74 billion from $1.44 billion during the same period in 2013.

Related Keywords: Babar Khan, export industry, increase in equires and order from European countries, kinitwear exports, Multinational export bureau, Pakistan textile industry, product diversification

Pakistan has witnessed an increase of 20-25 percent in enquires and order from European countries in the last 11 months, said Multinational Export Bureau CEO Babar Khan who runs two textile factories in Karachi that export most of their knitwear to the EU and United States, is not the only one who has benefited from the duty concessions.

Related Keywords: 10 percent growth, cotton output, cotton prices, declining trend, easy trend, higher phutti arrival, KCA, lint price, lower petroleium price, man-made fiber cheap, Pakistan cotton market, Pakistan textile industry, TCP, world market

With higher phutti (seed cotton) arrivals into the market and an ongoing easy trend on world market has lead to further fall in cotton prices on Thursday.

The Karachi Cotton Association (KCA) cut its spot rates for second consecutive session by Rs100 to Rs4,650 a maund, indicating the mounting pressure on lint prices.

The declining trend in lint prices world over has multiplied pressure on the domestic market .

The Trading Corporation of Pakistan’s (TCP) procurement drive seems to be failing as lint prices have dropped by between Rs300 and Rs350 since its start.

Related Keywords: Ambassador of Pakistan, market products, Pakistan textile industry, regional textile hub, state-of-the-art technology, Textile exporter, Turkey and the region

As Pakistan textile industry is considered the backbone of its economy. Ambassador of Pakistan to Turkey, Muhammad Haroon Shaukat assured that the Embassy of Pakistan would provide every possible help to Pakistani textile exporters to market their products in Turkey and the region.

He stated that Pakistani textile products were of highest quality and the country’s exports could be further boosted by showcasing state-of-the-art textile products. He expressed these views while visiting Pakistani stalls at a three-day Texworld exhibition in Istanbul.