- All Pakistan Textile Mills Association Chairman Gohar Ejaz
said that country would be unable to export cotton as 16
million bales production target is unlikely to be achieved due
to torrential rains, before the floods Pakistan was expecting
a bumper crop of 16 million bales.
- India has agreed to drop its objection at the World Trade
Organisation (WTO) against the European Union's decision to
allow duty-free access to 75 Pakistani products.
- Pakistan Hosiery Manufacturers and Exporters Association (PHMA)
stated that the government should immediately release Rs23.4
billion in refund to the value-added textile producers to
support the industry that is ailing after being badly hit by
unparalleled rise in cotton prices last year.
- According to the industry sources, out of textile industry
outstanding loans as on 30th June 2011, total loans are of Rs
600 billion with Rs 400 billion of spinning, weaving and
finishing and only Rs 200 billion of garments sector.
- According to the Pakistan Cotton Ginners Association
sources, due to disruption in arrival of cotton in market and
large scale damages to cotton crops caused by rains, the
prices have gone up. He said that the cotton prices were
likely to increase further with the increase in demand of
ginning factories and textile industries. About 200 ginning
factories have already stopped functioning due to
unavailability of cotton and increase in prices.
- Chairman Pakistan Readymade Garments Manufacturers and
Exporters Association (PRGMEA), Ijaz A. Khokhar has said that
government has approved a grant of Rs 33 million out of the
Export Development Fund (EDF) for setting up a display centre,
office building and women entrepreneur training centre in the
city.
- Textile industry has sought 5% refund against over Rs 400
billion outstanding loans as on 30th June 2011 to check
negative impact of steep fall in cotton prices internationally
ahead of procuring domestic cotton. Out of the total working
capital of over Rs 400 billion, the short- and long-term loans
consist of Rs 338 billion and Rs 91 billion, respectively.
- Rafiq Habib Godil, Chairman of Pakistan Knitwear and
Sweaters Exporters Association said that textile exports,
which jumped 35% to $14 billion in 2010-11, will drop below
$10 billion this fiscal year due to plunge in cotton price.
The losses faced by the industry are huge and ultimately banks
will feel the hit
- Federal Adviser on Textiles Dr Mirza Ikhtiar Baig and
Director on Board Pakistan Textile City thanked Prime Minister
Gilani for approving an additional Rs1 billion for the
Pakistan Textile City project to meet the urgent financial
need of the project. The Textile City, located at Port Qasim
Karachi, is a project of value added textile industries with
most modern facilities.
- All Pakistan Textile Mills Association and Lahore Chamber
of Commerce and Industry have agreed to create synergies in
lobbying for industry issues hampering economic growth of the
country. This agreement materialised during the visit of LCCI
President Shahzad Ali Malik along with the Executive Committee
members to the Aptma office.
- Chairman Pakistan Readymade Garments Manufacturers &
Exporters Association (PRGMEA) North Zone, Mubashar Naseer has
urged the Federal government to release immediately the stuck
up claims of rupees 23.42 billion under the Duty Drawback of
Local Taxes & Levies (DLTL) Scheme. He said the State Bank of
Pakistan has cleared only Rs 5.3 billion so far out of the
total claims of Rs 28.72 billion submitted by exporters until
the fiscal year 2011, causing hurdles in smooth business of
woven garments manufacturers and exporters.
- Chairman All Pakistan Bed Sheet and Upholstery
Manufacturers Association Khawaja Jalaluddin Roomi said that
there was 30% increase in exports revenue than the target set
in the textile sector. He expressed satisfaction that the
country earned another US$ 3.0 billion due to exports in the
textile sector. He clarified that billions of rupees income in
the textile sector was due to increase in prices at
international level.
- FAKT Exhibition's, region's largest textile & garment
machinery exhibition, IGATEX Pakistan has received 'Brands of
the Year Award' at the award ceremony. Prime Minister of
Pakistan Syed Yousaf Raza Gillani presented the award to
Saleem Khan Tanoli, Chief Executive Officer of FAKT
Exhibitions as being the most acclaimed textile brand of
exhibition industry.
- The department of yarn manufacturing at Faisalabad
University has arranged an Inauguration Ceremony and Seminar
for the new installed RSB D40 Draw Frame by Rieter on November
21, 2011 at their spinning laboratory. Officials from Rieter
and Simag companies will give presentation in IT Centre.
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