Released on = June 5, 2007, 3:57 am

Press Release Author = Bharat Book Bureau

Industry = Marketing

Press Release Summary = The textile and clothing industry is the backbone of
Pakistan's economy. In addition to being the country's largest industrial sector, it
accounted for no less than 68% of export earnings in 2003/04. As such it enjoys
strong support from the government which is keen to foster

Press Release Body = Prospects for the Textile and Clothing Industry in Pakistan

The textile and clothing industry is the backbone of Pakistan's economy. In addition
to being the country's largest industrial sector, it accounted for no less than 68%
of export earnings in 2003/04. As such it enjoys strong support from the government
which is keen to foster the sector's growth. The government's Textile Vision 2005
study has provided much of the thinking behind future development. The aim is to
make Pakistan one of Asia's top five textile and clothing exporting nations. At
present it ranks eighth. Pakistan's role as one of the world's leading cotton
producers has provided the basis for the textile and clothing industry's
development, although there has been a move towards the use of man-made fibres in
line with evolving consumer preferences in world markets. Much of the sector has
serious weaknesses-including outdated technology, poor quality and low
productivity-although significant gains in output have been made over the last ten
years. A high proportion of operations are in small and medium sized companies which
tend to be inefficient and lack the resources to effect an improvement. Foreign
investment is rising, but from a very low level. However, the biggest challenge over
the short to medium term stems from the ending of the global quota system on
December 31, 2004. This will present new opportunities but the threat of Chinese
competition and dominance looms large.


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