SHAFAQNA PAKISTAN (Shia News Agency)
The textile sector enjoys a pivotal position in the exports of Pakistan. The contribution of this industry to total gross domestic product (GDP) is 9.5%. It provides employment to about 15 million people, 30% of the country’s workforce of about 49 million. The annual volume of total world textile trade is $18 trillion which is growing at 2.5%. But Pakistan’s share is less than one per cent. For Pakistan which was one of the leading producers of cotton in the world, the development of a textile Industry making full use of its abundant resources of cotton has been a priority area towards industrialisation. At present, there are 1,221 ginning units, 442 spinning units, 124 large spinning units and 425 small units which produce textile products. However the same profitable industry is at decline now, APTMA Chairman S M Tanveer has given a timely warning that textile industry was losing a marketpotential of almost $ 6 billion annually due to the fast growing entry of second hand, smuggled and imported textiles and clothing in the domestic market. This should be considered as sounding the danger bell because according to him high value stock lots of fabric for shirting and other garment is being cleared by the Customs at rates as low as fibre/cotton prices. Textile industry is the backbone of Pakistan economy and if the imports at low rates are not checked and that too without losing time, the domestic textile sector, which is a jewel in the industrial sector would suffer another severe jolt. It is essential that policy planners should pay due attention for the greater good of textile industry and for that matter the country and bring an end to such activities.
Pakistan has fragile economy and with already decline in trade activities the downturn in Textile industry would be a great set back to already suffering economy. At this situation
Pakistan cannot afford to waste billions of dollars.
pakistan.shafaqna.com
