APTMA Chairman SM Tanveer accuses government of meting out stepmotherly treatment to textile sector
LAHORE: The All Pakistan Textile Mills Association (APTMA) claimed that textile exports would remain almost $2.30 billion less than the target during the current fiscal year as the industrty is suffering from a shortage of power.
Newly elected APTMA Chairman SM Tanveer accused the government of meting out a stepmotherly treatment to the textile sector. Tanveer feared that the textile exports would have to bear $2.30 billion losses if the government did not pay attention to the industry. He said that the textile industry was facing regional uncompetitiveness as the power tariff has been increased up to 67 percent in a year.
According to the TDAP statistics, textile and clothing sector faced 5.24 percent export losses during July-August in current fiscal year. Pakistan exported textile products worth $2.16 million against the last year’s exports worth $2.28 million.
According to details, the textile sector exported raw cotton worth $19,816 that is 40.59 percent less than the last year’s exports worth $33,357, while the cotton carded or combed export increased by 141 percent during July-August of the current year.
Pakistan has exported yarn worth $29,6571 during the first two-month trade of current year that is 26.37 percent less than the last year’s exports worth $402,811.
The industry exported cotton fabric of $401,597, while during Julu-August of the last year exports stood at $465,752 that was 13.77 percent more than the current year’s trade of two months.
During July-August exports, Pakistan has exported readymade garments and knitwear worth $737,829 that is 5.65 percent more than the same period of last year.
The Sui Northern Gas Pipelines Limited has suspended the gas supply to textile sector for yearly maintenance of four gas fields.
