In the current situation, when India competitor of Pakistan have announce billions of dollars packages for their industries. Pakistani textile exporters, in absence of a textile package have urged the federal government for a comprehensive textile package to facilitate the domestic industry, attract more investment in the sector and also to compete in the world market, said Shabir Ahmed, Patron-in-chief Pakistan Bedwear Exporters Association.
He said that recently Indian government approved Rs 60 billion special package for textiles & apparel sector to create 10 million new jobs in three years. As per estimates, Indian textile package will attract investments of $11 billion, besides generating $30 billion in exports. In addition, these measures also include additional incentives for duty drawback scheme for garments, flexibility in labour laws to increase productivity as well as tax and production incentives for job creation in garment manufacturing.
India has taken this step to facilitate the domestic industry and attract more investment in the textile sector, as over the last few years, Indian apparel manufacturing shifted to countries like China which had cost advantages. He said that India had already advantages of economies of scale and Pakistan was facing a tough competition in the world market. They believe that this package is a threat for the Pakistan's textile industry as well as exports as these measures will help Indian exporters to capture the foreign markets.
Indian officials are confident that they will overtake Vietnam and Bangladesh in garment exports within next three years if the package is properly implemented, Shabbir mentioned.
He said that while their competitors are facilitating their industries, Pakistani government is not taking preventive measures to protect the domestic industry. He said that UK's departure from EU may also put some negative impact on Pakistan's exports and now exporters were worried about the GSP plus status too.
Shabir urged the ministry of commerce for proper marketing and study of foreign market can help exporters to boost their exports and earn more foreign exchange for the country. Apart from that there was need that Pakistan's government also announce a comprehensive textile package to facilitate the country's largest export sector, otherwise Pakistan may lose some foreign markets.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
Countries Served Worldwide