Pakistan - Import of textile machinery down by 59pc
Dated- 22 Apr , 2012 - Pakistan
The import of textile machinery has slumped by 59 percent during March this year due to the phenomenal decrease in textile exports and output capacity caused by the country’s worst law and order situation coupled with severe energy crisis
“Manufacturers have started exporting the existing functional machinery to Bangladesh because Pakistan has growing issues of energy shortfall and routine violence in Karachi,” said former Chairman of Pakistan Hosiery Manufacturers and Exporters Association (PHMA), Saleem Parekh.
He said as to how the manufacturing units in Karachi and Punjab could expand their size when everyday violence and worst electricity and gas shortages had scaled down their production capacity to mere 50 percent.
“Knitting textile machinery was being exported in a large number to Bangladesh with its dying plants,” he said. He said that investors were ready to relocate their existing manufacturing setups to Bangladesh and elsewhere in the world if the present situation did not improve to help the businesses grow. The country’s import of textile machinery fell by 58 percent during March 2012 to 19.391 dollars as compared to the machinery import of 47.120 million dollars in March 2011, showing a decline of $27.729 million, according to Pakistan Bureau of Statistics.
On a monthly basis, Pakistan’s import of textile machinery scaled down by 56.25 percent in March this year as compared to the machinery import of 45.278 million dollars in Feb this year, depicting a slump of 25.887 million dollars, the officials figures suggest.
Source: Pak Observer