Pakistan textile industry shows growth with improved energy supply

The All Pakistan Textile Mills Association (APTMA), has claimed that energy supply to textile industry has resulted in 21 percent increase to $215 million in December to December period and now APTMA is hopeful to achieve $3 billion exports out of the capacity, which was earlier closed.

Aptma’s zonal chairman SM Tanveer said on Wednesday that increased supply of electricity and gas to the industry in Punjab had resulted in growth of textile and clothing exports.

If government continues its policy of providing uninterrupted energy to textile units in the Punjab, the country can successfully fetch additional export revenues of $3 billion, he said while speaking at a press conference on Wednesday.

He said that a bullish textile sector growth could reverse growth in the current account deficit and strengthen the currency.

The revival of the capacity of units had helped reduce unemployment to 6pc in December from 6.20pc a year ago. Thee large-scale manufacturing (LSM) has also registered growth during the same period from 2.24pc to 5.23pc.

According to him, yarn and cotton cloth export reduced by 9pc and 13pc during last month compared to the same period in 2012. On the other hand, the value-added sector products had grown between 17pc and 46pc in the same period which was a welcome development

Seth Akbar, Aptma’s senior vice chairman, said that for the first time the government realised the fact and ensured energy supply under a special arrangement during winter.

As a result, those who attended Heimtex textile fair in Germany are getting orders from around the world.

APTMA has statistically proved that the industry can perform well in case the energy supply remains intact. APTMA also requested that they should be exempted from load shedding, having a total demand of 126 megawatts.