It is a difficult situation for Pakistan’s textile industry
According to Pakistan’s “Daily Times” report, Gohar Ejaz, chairman of the Punjab District of the All Pakistan Textile Factories Association (APTMA), said that 2009 was the year of greatest losses for Pakistan’s textile industry, especially the spinning industry. . Despite this, Pakistan’s textile industry is still finding ways to cope with the adverse situation and realize its maximum potential.
Ijaz said that the President and Prime Minister of Pakistan declared the country to be in a state of war in early 2009, which was one of the important reasons for the decline in textile product exports. In addition, factors such as power and natural gas supply shortages and high bank interest rates have also had a greater impact on the textile industry.
Ijaz said that the Pakistani textile industry was closed for more than 75 days in 2009, and production paid a huge price. The Pakistani government announced a five-year development policy for the textile industry in October and decided to provide sufficient natural gas and electricity for textile companies. However, this decision was only implemented in November. In December, textile companies once again encountered a power and natural gas supply crisis, with power outages lasting as long as 8-10 hours a day.
Pakistan’s textile industry contributes nearly 60% to the country’s exports. In the 2007-08 fiscal year, exports exceeded US$10.57 billion, but decreased to US$9.56 billion in the 2008-09 fiscal year.
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