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Prospects for the Textile and Garment Industry in Pakistan, 2009 Edition
Textiles Intelligence, Nov 2009, Pages: 48
The textile and garment industry is Pakistan’s most important industrial activity by far and is a crucial part of the country’s economy. In the 2007/08 financial year (July 1, 2007-June 30, 2008) the industry accounted for around 8.2% of the country’s gross domestic product (GDP). Also, it exported goods valued at US$10.6 bn, which represented 55% of national exports. In addition, it provided employment for 2.84 mn people, representing 40% of the manufacturing workforce. Pakistan is also the world’s fourth largest cotton producer, and cotton has played a principal role in the expansion of the textile and garment industry. However, man-made fibres are playing a growing role.
The government recognises the importance of the textile and garment industry to the country’s economic wellbeing and has given support in a number of ways. One measure is the Balancing, Modernisation and Replacement (BMR) programme under which finance is provided at a concessionary rate. Also, the industry is lobbying for the resumption of a scheme to support research and development. The scheme was withdrawn in 2008 because of suspicions that allocated funds were being misused.
Looking ahead, the textile and garment industry faces a number of serious issues and is operating under difficult circumstances which seem certain to persist. Foreign confidence and investment, especially compared with other Asian locations, have been undermined by the volatile political scene—as Pakistan’s government has alternated unpredictably between military and civilian rule—along with continuing threats of terrorism. Trade has been adversely affected by the global economic downturn, as demand has declined in the country’s major export markets, and production is often disrupted because of the unreliability and inadequacy of the country’s electrical power supply system. Above all, there is an urgent need to upgrade the industry’s manufacturing equipment and organise production in order to gain the economies of scale achieved by international competitors.
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