The textile sector has been facing chronic energy shortages and stuck-up exports refunds due to which textile and clothing exports plunged from $9.166bn to $8.363 billion in the first eight months (July-February) of 2015-16 in the same period last year, a drop by 8.76 percent, according to Pakistan Bureau of Statistics data.
The decline in exports, from July 2014, was despite the preferential market access to the European Union as government failed to capitalize on the opportunity of Generalized System of Preferences Plus (GSP+) status.
Details showed that exports of low value-added products, such as cotton cloth dropped 10.69pc, cotton yarn 32.80pc, cotton carded 98.12pc, yarn other than cotton 21.20pc and made-up articles by 4.41pc.
In value-added sector, exports of bedwear fell by 5.42pc and knitwear 2.72pc. However, readymade garments and towels grew 3.97pc and 1.05pc, respectively.
Raw cotton exports witnessed a massive decline of 46.58pc.
Total export proceeds decreased by 13.30pc year-on-year to $13.868bn in July-February 2015-16 from $15.995bn.
Belgian textile recycling company Resortecs and French sporting goods retailer Decathlon have teamed up to develop an innovative line of…
Global Standard has launched a groundbreaking initiative to showcase the potential of remote satellite monitoring in organic cotton farming systems…
KARL MAYER launches Energy Efficiency Solution, a cloud-based platform integrating sensor technology and custom analysis software to monitor energy consumption.
Loop Industries has partnered with Ester Industries to create a manufacturing facility in India to produce low-carbon recycled rDMT and…
Silk Laundry introduces its latest collection, "A View," merging conservation with fashion to foster "wearable conversations" about sustainable living.
Under Armour has introduced its first product utilizing Neolast: the Vanish Pro T-shirt, boasting lightweight, stretchy, breathable, and fast-drying qualities.