Showing posts with label Textile Exports. Show all posts
Showing posts with label Textile Exports. Show all posts

Sunday, December 27, 2009

Textile Ministry finalizes draft of textile revival package

The Federal Textile Minister, Mr Farooq, yesterday announced that, the government has finalized the draft of the National Textile Revival Plan, which has been sent to the relevant stake holders for their comments.

Mr Farooq announced this, on the sidelines of a seminar on “Pakistan Hosiery Manufacturers ”, hosted by the ,Association and added by saying that attending this seminar was part of government policy to seek recommendations from industry leaders.
Earlier while addressing the seminar, Mr Farooq said that, the State Bank of Pakistan had started accepting R&D claims, the payment for which may begin, early next week. He also revealed that the government had allowed import of five year old machinery, as suggested by the industry trade bodies.
Three more of these type of seminars will be held in Faisalabad and Sialkot and the final one at the President’s residence. The minister said that the government was keen to solve the problems of the sector and this seminar had been organised on the recommendations of the President, himself he disclosed.

Textile industry will enjoy smooth power supply

The government wants to ensure a smooth power supply to the textile industry units as it wants to protect the industry, which is the backbone of country’s economy, said Mr Raja Pervez Ashraf, Minister of Water and Power.


Mr. Raja, along with the minister of textile Rana Muhammad Farooq, talked to the media after a meeting with a delegation of textile industry, Power Looms Association and representatives of Faisalabad Chamber of Commerce and industry.

The minister informed that, a committee, headed by the Minister of Textile with representation from all sectors has been constituted to outline a strategy to resolve the problems of textile industry, mainly to ensure proper electricity supply to the industry.
Furthermore, he added that committee meeting will be held in Lahore on Saturday with Managing Director and Director General of Pakistan Electric Power Company (PEPCO). The committee will finalize the recommendations which will be sent to the Ministry of Water and Power.
Power tariff determined by National Electric Power Regulatory Authority (NEPRA) will also be discussed in this meeting, which will also be discussed at other relevant forums also, said Minister of Water and Power.

Govt releases first tranche under textile policy

The Federal Textile Minister, Rana Muhammad Farooq Saeed Khan, who chaired the 1st meeting of Textile Policy Implementation Liaison Committee, informed that the government has allocated Rs 10 billion for various initiatives under the textile policy for the current fiscal year.
He added by saying that out of the Rs 10 billion, Rs 5 billion had already been released to the State Bank of Pakistan and that he would ensure that the textile policy would be implemented in its true spirit for the development of textile sector in the country.
Dr. Waqar Masood apprised the participants, who represented all the sub-sectors of the textile industry about the progress on implementation of the policy in detail and that notifications regarding important initiatives of the policy have already been issued.

Act to help stakeholders avail benefit of textile policy

A Textile Act has been proposed to be framed, under which only those companies registered with the Federal Ministry of Textiles, will be eligible to receive incentives under the textile policy, which was announced earlier in the year.

The details of the proposed Textile Act will be shared with the textile sector in the next meeting of the committee, as per a decision taken by the Textile Policy Implementation Liaison Committee at its second sitting held yesterday.

Members of the committee discussed various issues with regards to the implementation of the Textile Policy. Ideas and views were shared and different suggestions and recommendations were given by the committee members during the meeting.

The Committee was also informed about the registration process related to yarn export contracts and it was decided to convene a separate meeting, to discuss the issues relating to yarn exports and difficulties faced by the stakeholders.

Duty structure of polyester chain under review

In line with the directives announced in the Textile Policy 2009-2014, the National Tariff Commission (NTC) has initiated an investigation to review the duty structure of the Polyester value chain in the country.

The commission will follow a due process where, it shall carry out an in-depth examination of the case of protection to indigenous industry and also conduct comprehensive analysis of the relevant data.

The textile minister while announcing the textile policy had said that, to promote utilization of man-made fibre and diversify the export mix, monetization of customs duty of PTA is being continued to offset additional cost for the users for the current year.

Federal Cabinet approves Textile Policy

Federal Cabinet Wednesday approved textile policy in a meeting at Prime Minister Secretariat here with Prime Minister Yousuf Raza Gilani in chair. The cabinet in the five-year textile policy has set the textile exports target at 25 billion dollars. The cabinet also decided to take steps to boost the production in textile sector. Prime Minister Gilani also formed a ministerial committee to monitor the enforcement of the textile policy. Prime Minister Syed Yousuf Raza Gilani Wednesday said the Textile Policy aims at incorporating the strategies that are essential to address the challenges confronting this sector on a sustainable basis besides meeting the expectations of the industry. Addressing the Special Cabinet meeting convened to consider the Textile Policy 2009-14 at the PM Secretariat, the Prime Minister said for the first time in the history of the country, the government was adopting a five-year Textile Policy, which would give the vision that was needed for the textile sector.

Tuesday, December 22, 2009

PAKISTAN: Textile makers demand cotton yarn export ban

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Summary: Workers at a number of textile plants in Pakistan have taken strike action in protest against cotton yarn exports from the country.

Word count: 194

Date: 9 December 2009

Source: Ahmed Abdullah

Sunday, December 20, 2009

Textile Industry in Pakistan - An Introduction

The share of textile industry in the economy along with its contribution to exports, employment, foreign exchange earnings, investment and value added makes it the single largest manufacturing sector for Pakistan. It contributes around 8.5 percent to GDP, employs 38 percent of the total manufacturing labor force, and contributes between 60-70 percent to total merchandise exports. Indeed, with exports reaching about $8.6 billion in 2004-05, Pakistan is one of the largest textile exporters in the world.