Pakistan : Textile sector exports may go off target

The major industrial sector in Pakistan, textile is unlikely to reach exports target for year 2004-05. The Ministry of Commerce and Export Promotion Bureau had anticipated the target of textile exports about $9.2 billion after talks with textile stakeholders. The textile exports reach $830 million in the month of May 2005, depicting of elevation when matching to the exports of $782 million exports in April 2005 and 650 million dollars in May last year. An Export Promotion Bureau official informed that the textile exports are suspected not to cross the fixed hurdle of one billion dollars. The interim report of textile exports for the month of June would be available in next couple of days, he added. The EPB official explained that in 11 months of fiscal year 2005 the exports of cotton yarn, fabrics, apparel & clothing and made-up textile products have been substantial increased. Total exports climb by $12.72 billion in 11 months of last fiscal as against $10.87 billion in the same period of its previous fiscal year, indicating an total jump of $1.85 billion. Sources in textile industry informed that the factors behind the incredible rise are abolition of quotas and the increase in domestic cotton crop, besides decline of 40-50 percent in its costs, proved favourable for the domestic industry. However, Pakistani exporters has to face cutthroat competition with its other regional majors like China, India and Bangladesh, but the competitiveness and quality in yarn, fabrics, clothing, knitwear, bed linen has been enhanced the exports in last fiscal year.