Pakistan Yan Merchants Association (PYMA) has asked the Government of Pakistan to immediately increase the supply of energy for the textile industry. Speaking to reporters, PYMA Chairman Abaidullah Sheikh said he has requested the Government of Pakistan to take immediate steps to make up for the reduced productivity of textiles.
In July 2014, the export of cotton yarn has declined by 35.32 percent, while exports of cotton cloth have reduced by 8.13 percent. Similarly, the exports of art silk came down by 12.64 percent, and exports of made ups reduced by 5.59 percent, and other textile material exports reduced by 14.40 percent. This month witnessed an overall decline of about 2.37 percent of exports. In July 2013, textile exports were worth US$ 1.19 billion, whereas in July 2014 it was valued at $1.16 billion.
Abaidullah said the low supply of electricity and gas to the textile industry has led to a decline in textile exports in July 2014. He demanded that the Government immediately increase the energy supply to the textile industry to enable it to maximize its productivity and earn precious foreign exchange for the country.
Due to the load-shedding problem, the productivity in textile industry has come down by 50 percent. This has resulted in less number of export orders. Also, foreign buyers and investors are now thinking twice about coming to Pakistan, Mr. Abaidullah said.
