The spokesman of All Pakistan Textile Mills Association (Aptma) has termed growth of textile exports during the month of July 2011 as satisfactory and a good start of new fiscal year. He said the textile industry exports registered 14 percent growth in value terms to $1.121 billion in July 2011 compared with the corresponding period of last year.
Further, he said, the textile exports witnessed 12 percent growth in terms of quantity. According to him, this satisfactory growth at the very outset of new fiscal may only be maintained if the government is fully alive to the problems of the textile industry ahead.
The Aptma spokesman said the energy security is causing great concern in the textile value chain. Repeated breakdowns in uninterrupted supply of electricity and gas to the textile value chain units incurred production loss of 30 percent throughout 2010-11. He said the government should ensure uninterrupted supply of electricity and gas across the textile value chain on priority.
Further, said Aptma spokesman, the government should provide globally competitive interest rate on short and long term loans to the textile value chain to avoid Non Performing Loans in a situation when cotton prices are under pressure world-wide. The Aptma spokesman said the government should immediately release funds under the Technology Up-gradation Fund Scheme (TUFS) for capacity creation to produce exportable surplus.
He said the textile industry has a potential to invest $1 billion per annum and demands a congenial environment. He said the government should also work on improving law and order situation in the country to ensure a consistent growth in exports. Also, he added, serious efforts should be made on having market access for the textile industry.
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