LAHORE: Chairman APTMA Punjab S M Tanveer has said that the textile exports have registered an increase of 14.54% in value terms in the month of February 2014 against the corresponding period.
Similarly, he said, there is an impressive growth in exports of knitwear, bed wear, towels and ready-made garments in quantitative terms during the same period, which is a clear indication that the textile industry remained operational due to availability of energy, both electricity and gas, during the winter.
According to him, there is dire need of keeping the industry fully operational ahead and the government should ensure seven days a week uninterrupted energy, both electricity and gas, supply to the industry.
S M Tanveer said that only an uninterrupted energy supply can enable the industry to reap the fruits of market access from the EU under the GSP plus facility.
He said the textile industry’s exports are likely to reach to $14.60 billion at the end of current fiscal in case the present growth momentum persists for which uninterrupted energy supply will be the prime condition.
Also, he said, an uninterrupted energy supply will enable the industry to produce exportable surplus, as the APTMA has envisaged new investments to achieve its vision of doubling textile exports from $13 billion to $26 in five years.
He said Pakistan’s textile industry is the only one industry carrying on its operations without any government support, subsidy or any incentive against the regional competitors like India, China and Bangladesh where textile industry is heavily pampered. Rather, he added, the Punjab-based textile industry is operational on negative subsidy, severe load shedding and heavy productivity losses due to circumstances beyond its control.
Chairman APTMA Punjab said the government should ensure enabling environment competitive with regional competitors including interest rate, electricity tariff and reduction in inflation in line with rupee revaluation.
He said this highly opportune time for textile industry to take maximum benefit of the congenial environment for growth.
S M Tanveer has further expressed the hope that a fresh improvement in the economic indicators will also attract foreign investment in the country to the benefit of the textile industry at large.