Pakistan Yarn Merchants Association’s Chairman Abaidullah Sheikh has expressed grave concern over the declining trend in textile exports and demanded of the government to take immediate remedial measure to arrest this short fall.
Talking to newsmen on Saturday, he told that in July 2014 export of cotton yarn declined by 35.32 per cent, cotton cloth 8.13 per cent, art silk 12.64 per cent, made ups 5.59 per cent and other textile material by 14.40 per cent. Thus overall decline of 2.37 per cent has occurred in this month. Elaborating it further, he said, in July 2013 textile exports were 1.19 billion dollars whereas in July 2014 it was 1.16 billion dollar.
Explaining the reasons behind this decline, he said the basic cause was severe short fall in supply of electricity and gas to the industry while law and order situation also played important role. He said in July 2014 due to the month of Ramzan, the government reduced electricity supply to industry for sake of fast observers and the supply of electricity was cut down to 4 hours only.
The government had promised to restore the supply to industry by the end of Ramzan and review the situation by July 20. However, due to recent protest politics the supply was not restored. Resultantly, the textile industry is facing severe load shedding and productivity has plunged by 50 per cent. Export orders are not forthcoming. Foreign buyers and investors are hesitant to come over to Pakistan.
Abaidullah Sheikh expressed apprehension that there would be further decline in the month of August 2014 if the present state of uncertainty continued. He demanded of the government to immediately increased energy supply to textile industry to enable it to maximise its productivity and earn precious foreign exchange for the country.
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