Textile industry in Pakistan has a total established capacity of spinning around 1550 million kgs of yarn, weaving 4368 million sq meters of fabric, and finishing capacity of 4000 million sq metres. It provides 38% of the total industrial employment, contributes to 62% of its exports, and 27% to the industrial value addition. The sector contributes to nearly 8.5% to GDP. Pakistan has a dynamic export oriented textile industry, generating the highest export earnings of the country. 9 million bales of cotton are produced every year making it the fourth biggest cotton producer in the world
Currently there are a multitude of issues facing the industry. It needs to enhance its product quality, upgrade the technology, and encourage appropriate research and developmental activities. High interest rates, cots of inputs, and non-guaranteed energy supplies also hinder the competitiveness of the industry. Increasing interest rates have seriously affected small owners, while hindering in the growth of textile tycoons. Due to the global meltdown, textile exports of Pakistan were down by 9.5% during 2008. Textile owners felt it was imperative for the Government to take actions that would result in a positive impact on the industry.
Source : articlesbase
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