LAHORE: All Pakistan Textile Mills Association (Aptma) Chairman S. M. Tanveer has said that the textile industry of Pakistan could not compete with the regional players in international market due to the lake of facilities to the textile sector.
He said a latest study by the GHERZI/IBA has revealed that the manufacturing of 20s and 30s single cotton yarn is around 15 percent cheaper in India due to availability of raw material of better quality and cultivation. According to report India industrialist can replace their old machinery with latest machines at almost zero interest rate under the TUFS scheme that cause high production, he added.
He further said that energy availability at affordable tariff, cheaper finance, lower wages and workforce were such indicators that strengthen the Indian industries while in Pakistan textile sector was facing various problems.
He said the textile industry in Pakistan, on the other hand, is struggling for energy availability without break over the last six years. Also, the industry in Pakistan is being burdened with various types of innovative taxes and inefficiencies which cannot be passed on to the buyers.
According to him, the textile industry is predominantly export-oriented and thus exposed to the international market to lose its substantial market share, consequently our textile and clothing exports are declining or stagnant since February last. Resultantly, the textile mills are converting fast into the category of sick units and closing down one after another.
Chairman APTMA has warned that the situation is fast heading towards a serious repercussion on the farm sector, the entire textile value chain and eventually the textile industry workforce.
