Textiles is mainstay of Pakistan's exports: President (Pakistan)

The textiles and clothing sector forms the mainstay of Pakistan’s exports, which portray the country’s manufacturing excellence, Pakistan President Asif Ali Zardari said at the Annual Dinner of All Pakistan Textile Mills Association (APTMA).

 

The President said that cotton and low cost labour are the springboards for the country’s textile industry and appreciated entrepreneurs for setting up a self-reliant textile sector production chain in the country.

 

Mr. Zardari said the Government is aware of the need for value-addition and increasing competitiveness of Pakistani textiles and hence, it announced the first-ever Textile Policy in 2009. He added that the Government also came out with a five-year Textiles Policy 2009-14.

 

He informed that the Government has set a limit on the exports of low-valued yarn in order to support the country’s textile industry by making raw material available in the domestic market. This step was part of the Government’s efforts to enhance value-added textile exports from the country, he added.

 

He revealed that the Government released Pk Rs. 23 billion over the last three years for strengthening the textiles value chain, despite the country passing through a difficult economic phase.

 

He mentioned that he was aware of the problems faced by the country’s textile industry due to energy shortages, which was hindering production, exports and employment. He stated that the Government was making concerted efforts to better the energy situation in the country and accord priority to the textile sector in energy supply.

 

The President said the Government’s policies to boost textile exports are yielding results as is visible in steady growth in textile exports. He said the country’s textile and garment exports touched nearly US$ 14 billion in fiscal year 2010-11, growing at about 35 percent year-on-year.

 

He added that textile exports diminished by nine percent year-on-year last fiscal, owing to slump in major economies.

 

Mr. Zardari mentioned reduction in interest rates as one of the steps taken by the Government to boost the textile sector.

 

He said the Ministry of Textile Industry has been directed to prepare the first ever Cotton Policy of Pakistan.

 

The President suggested that textile exporters should explore new markets for their products, in addition to adopting new methodologies, planning for long-term and focusing on infrastructure development, to sustain their competitiveness.