Textile industry and Pakistan's economy

Textile industry and Pakistan's economy

OVERVIEW

   Pakistan has dynamic, vigorous and export oriented textile industry that has an overwhelming impact on economy. Textile being largest industrial sector generates the country’s highest export earnings of about 58%; providing the bulk of employment (39%) to largely under utilized workforce, and contributes 8.5% to GDP. 

Post-quota scenario has dramatically changed the global trade patterns and increased the competition;nonetheless there is a new focus required for textile industry to increase their successive rate. Keeping in view to this, a separate Ministry was created on 2ndSeptember, 2004 with assigned responsibilities to formulate strategies and programs to facilitate the textile sector for attaining sustainable growth. MINTEX is  currently in the process of implementing and finalizing various initiatives like acquiring professional management skill, technological up-gradation, human resource development, innovations in diverse products, maintaining standards, ensuring quality and to produce contamination free cotton to bridge the country’s yawning trade-gap as well. To achieve even higher objectives and to anticipate the challenges confronting by the textile sector in post-quota scenario,the Government of Pakistan introduced a special textile package in the form of R&D support @ 6%. This support has helped the textile garment sector to survive and sustain itself. A similar support has also been extended to home-textile sector in 2006-07. During the year Rs. 18.434 billion have been disbursed through this scheme out of which Rs. 14.286 billion have been paid to the garment sector.

   Pakistan textile industry is facing tough competition from the regional competitors. The cost of doing business in Pakistan is high as compared to other competitors. On account of these reasons, the Pakistan textile industry is going through crucial calculations. But there is no denial of the fact that there exists immense potential for growth and development of textile industry. In view of the anticipated competition with rival countries efforts are being made to make Textile and Clothing sector more dynamic and competitive. A number of projects inter Alia Lahore, Faisalabad & Karachi garment cities and Pakistan Textile City, Karachi have been planned in public sector with an investment of over Rs. 3.5 billion to which multilateral institutions and stakeholders are equity partners. These cities are meant for value added finished textile products.

    Future of the textile industry in Pakistan seems bright as lots of opportunities are available in the era of globalization. Thus creating greater opportunities for the fourth biggest cotton producer country of the world. Inline with the world market situation, the Ministry is striving hard to envisage a new culture which would expedite the process of improvement in all the segments of textile sector and will be synergistic for industry to boost its share in global trade.  

Textile industry and Pakistan's economy

 Textile industry and Pakistan's economy

  Cotton crop

 Textile Spinning

Textile industry and Pakistan's economy

 Textile Fabric weaving

 Textile Fabric printing

  Ready fabric in the market

Textile industry and Pakistan's economy

Grim future for Pakistan's textile industry