Pakistan Yarn Merchants Association’s Chairman Abaidullah Sheikh has expressed grave concern over the declining trend in textile exports and has demanded of the government to take immediate remedial measure to arrest this shortfall.
Talking to newsmen here Saturday, he told that in July 2014 export of cotton yarn has declined by 35.32%, cotton cloth 8.13% art silk 12.64%, made ups 5.59% and other textile material by 14.40%. Thus overall decline of 2.37% has occurred in this month. Elaborating, he said, in July 2013 textile exports were 1.19 billions dollars whereas in July 2014 it was 1.16 billions Dollar.
Pinpointing the reasons behind this decline, he said the basic cause was severe shortfall in supply of electricity and gas to the industry while law and order situation and uncertain situation also played important role. He said that 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 the month of Ramzan and review the situation by 20th July. However due to recent agitational politics the supply was not restored. Resultantly the textile industry is facing severe loadshedding and productivity has plunged by 50%. Export orders are not forthcoming. Foreign buyers and investors are hesitant to come over to Pakistan.
Abaidullah Sheikh expressed apprehension that if the presence state of uncertainty continues there would be further decline in the month of August 2014. He demanded of the government to immediately increase energy supply to textile industry to enable it to maximize its productivity and earn precious foreign exchange for the country.