A joint survey between the World Bank and the Central Bank of Pakistan called for the textile industry to shape investment in technology and skills development.
To meet rising challenges and demands, the textile industry should immediately raise funds to invest in technology, the research report said. The textile industry is one of the most important mature industries in Pakistan, but it is losing its advantages to other countries, especially Southeast Asian countries, the report said.
Pakistan’s textile industry contributes more than 60% of the country’s total exports. It contributed 46% to the country's total output and became the eighth largest exporter of textile products in Asia.
According to the economic survey of Pakistan, the textile industry contributed 8.5% of the country's total GDP, providing employment for 15 million people, which accounted for about 38% of the total number of workers.
However, the proportion of Pakistan's skilled labor force is very small compared to those who have no skills, according to the study.
Pakistan’s textile industry needs to improve product quality by focusing on added value, the study suggests. Pakistan's textile machinery is mostly imported from Japan, Switzerland, Germany, China and Belgium.
The report regrets the training of the textile sector in Pakistan and the death of the development plan. China, Bangladesh, and guidance are the main competitors of Pakistan’s textile products.
Pakistan is the only country in Southeast Asia that does not have a strong mechanical infrastructure. Pakistan relies on external machinery industries, which leads to high production costs and low engineering technology, the report said.
This report suggests that Pakistan use China's help to develop the textile industry and establish an assembly plant.
On the supply side, in the past few years, the textile industry has grown rapidly, but in the last decade it has faced a downward trend. Most textile factories and industrial units cannot contribute to the country’s economy and cannot maintain profits. Textile mills are facing power shortages and rising raw material prices, the report said. This situation led to the closure of most of the textile factories in the area of ​​Fisannabad, resulting in an increase in the unemployment rate. Consumers have shifted to other South Asian countries, profiting India, Bangladesh and China, the report said. Local consumers face the lack of textile products and high commodity prices. The main challenges facing the textile industry are still the expensive raw materials, high consumption taxes and import tariffs, and energy crisis, the report said. The Pakistani government should initiate approval of the textile outlook plan and provide assistance for the supply of raw materials to save the textile industry. The report suggests.
To meet rising challenges and demands, the textile industry should immediately raise funds to invest in technology, the research report said. The textile industry is one of the most important mature industries in Pakistan, but it is losing its advantages to other countries, especially Southeast Asian countries, the report said.
Pakistan’s textile industry contributes more than 60% of the country’s total exports. It contributed 46% to the country's total output and became the eighth largest exporter of textile products in Asia.
According to the economic survey of Pakistan, the textile industry contributed 8.5% of the country's total GDP, providing employment for 15 million people, which accounted for about 38% of the total number of workers.
However, the proportion of Pakistan's skilled labor force is very small compared to those who have no skills, according to the study.
Pakistan’s textile industry needs to improve product quality by focusing on added value, the study suggests. Pakistan's textile machinery is mostly imported from Japan, Switzerland, Germany, China and Belgium.
The report regrets the training of the textile sector in Pakistan and the death of the development plan. China, Bangladesh, and guidance are the main competitors of Pakistan’s textile products.
Pakistan is the only country in Southeast Asia that does not have a strong mechanical infrastructure. Pakistan relies on external machinery industries, which leads to high production costs and low engineering technology, the report said.
This report suggests that Pakistan use China's help to develop the textile industry and establish an assembly plant.
On the supply side, in the past few years, the textile industry has grown rapidly, but in the last decade it has faced a downward trend. Most textile factories and industrial units cannot contribute to the country’s economy and cannot maintain profits. Textile mills are facing power shortages and rising raw material prices, the report said. This situation led to the closure of most of the textile factories in the area of ​​Fisannabad, resulting in an increase in the unemployment rate. Consumers have shifted to other South Asian countries, profiting India, Bangladesh and China, the report said. Local consumers face the lack of textile products and high commodity prices. The main challenges facing the textile industry are still the expensive raw materials, high consumption taxes and import tariffs, and energy crisis, the report said. The Pakistani government should initiate approval of the textile outlook plan and provide assistance for the supply of raw materials to save the textile industry. The report suggests.
Lamb Fur,Fur Hood Coat ,Fake Fur Coat ,Black Fur Coat
Warm Gloves Co., Ltd. , http://www.nbfurs.com