Bangladesh has grabbed the garments market and now its garments exports have swelled to US $22 billion per annum. Pakistan has significantly lost its garments export market due to the high cost of production among other reasons while maintaining its competitive position in bed wear market. Syed Muhammad Aasim Shah, Chairman of All Pakistan Bed sheet and Upholstery Manufacturers Association (APBUMA) said that government had fixed the target of bed wear export at US $1900 million but we exported the bed wear of US $1904 million during July-December 2008 while our ready-made garment exports stood at US $1452 million against the target of US $1,575 million in last six months.

Knitwear (Hosiery), however, met the target and its export rose to US $1,872 million against the target of US $1,850 million. The APBUMA dreaded the continuation of interest rates imposed on textile industry by State Bank of Pakistan (SBP) is set to devastate textile industry. He underscored the major grievances of textile industry are the heavy interest rates charged by banks, load-shedding of electricity and suspension of gas supply which he maintained were enough to finish textile industry.