News Tags

Related Keywords: European Union, GSP Plus status, textile export from Pakistan, textile industry in Pakistan, textile manufacturers in pakistan, value added textile products

The textile industry in Pakistan is getting ready to take advantage of the GSP Plus status granted by the European Union to the country. At two listed textile companies have made significant expansion to increase the production of yarn, the basic raw material of the value-added textile products. Textile manufacturers are eyeing the GSP Plus status to come in to effect from January 2014, which will potentially result in increased textile exports.

Related Keywords: All Pakistan Textile Mills Association, APTMA, Chairman S M Tanveerm, textile export from Pakistan, Textiles in Pakistan

The All Pakistan Textile Mills Association (APTMA) has warned the government that the survival of textile industry would be at stake if gas supply is suspended to the Punjab industries.

The Punjab Chairman S M Tanveerm stated that the country could face a loss of over US$2 billion exports and urged the government to keep a check on the fast depleting foreign exchange reserves and the depreciating currency. He also urged the government to provide uninterrupted gas and electricity supplies to the Punjab-based textile industry, thereby enabling it to perform to its full potential.