Pakistan textile exports witnessed plunge of 6.38 percent in December 2014 despite the availability of GSP Plus scheme. The major factors behind the substantial drop in exports are energy shortage and lack of working capital.
According to the Pakistan Textile Exporters Association (PTEA) details, the country exported textile goods worth $1.175 billion in December against exports of $1.255 billion in the same month of previous year.
Value-added items also recorded a negative growth as cotton cloth exports declined by 13.62%, bed wear 11.54%, towels 11.39% and made-ups 10.04%.
PTEA Chairman Sohail Pasha and Vice Chairman Rizwan Riaz apprehended that export numbers might be even worse in coming months as the textile industry of Punjab has been deprived of basic fuel and working capital.
Energy shortage and liquidity crunch are the prime causes of the decline as a major part of production capacity of the textile industry is lying idle due to short supply of electricity and gas.
Due to the non-serious attitude of the government, exports are heading towards collapse after a visible decline.
Avavav has continued its exploration of innovative materials by presenting new garments made with recycled viscose pulp from OnceMore during…
Vegea has increased the production capacity of its biobased material, GrapeSkin, as interest grows in alternatives to fossil-based and animal-derived…
Puma has announced a partnership with Chinese materials company Shincell to develop the next generation of its NITRO running foam.
Thermore, a company in thermal insulation, has introduced Ecodown Fibers T2T. The new free-fibre insulation is produced entirely from recycled…
Eurojersey, Lycra have collaborated to launch Empowered Play, a new approach to functional apparel where technical performance and comfort come…
Graphene-X has introduced its first women’s clothing collection, expanding its use of graphene-integrated fabrics beyond the men’s and unisex products.