The national day of Republic of Italy is celebrated on June 2 every year, the Republic of Italy was born on June 2, 1946. I am delighted to send best wishes to the people of Italy as you celebrate your national day this June 2. Our two countries are working together for the future peace and prosperity of our world. As you celebrate this special day with the warmth of good food, family, and friends, know that Pakistan stands with you.
Italy is one of the top eight trading partners of Pakistan. Over the years of friendly ties, trade and other economic activities have grown between the two countries.
Italy is one of the most important European textile machinery producers. According to the ACIMIT, the Association of the Italian Textile Machinery Manufacturers, the value of Italian textile machinery production for 2011 increased by 12% in comparison to 2010 production, netting a total of 2.7 billion euros, up from 2.4 billion euros the year before. As in every other important textile machinery producing country, exports remain the major engine of growth in Italy.
Over the past five years trade between Pakistan and Italy has increased but the rise in exports has been greater than the imports. The balance of trade had remained in favour of Pakistan, which increased from US $100 million in 2006-07 to US $388 million in 2010-11.Cotton fabrics and yarn, readymade garments, towels, hosiery, beddings, carpet and rugs, cotton, leather, sports goods and surgical instruments are the major items exported from Pakistan to Italy.
Textile machinery, general industrial machinery, power generating machinery, petroleum products, transport vehicles, iron and steel, pharmaceuticals, acrylic fiber, chemicals and paper and paperboard are the main items imported from Italy. Italian machinery exports to Pakistan decreased from Euro 48 million in 2010 to Euro 27 million in 2011, thus showing decline of 44%.
Italian textile machinery sales in Pakistan for 2011 are divided into spinning, finishing, weaving, accessories and knitting.
In my opinion we will have to expand our export markets to ensure a sustained and shock free textile exports of Pakistan. Cotton yarn, cotton cloth, knitwear, bed wear and garments are the five categories in textiles that earn more than one billion dollar foreign exchange a year.Together these four categories accounted for $9.606 billion (78 percent) out of $12.357 billion textiles exports in 2011-12.Baring cotton cloth where exports are evenly distributed exports in other four categories are concentrated to few economies.The other major buyers of Pakistani cotton cloth were China 11 percent, Turkey and Italy 5.6 percent each and remaining was destined to 20 different countries.
According to the figures released by Pakistan Bureau of Statistics (PBS), Pakistan exported textile commodities worth of $12.357 billion in July 2011-June 2012 period as compared to $13.788 billion in the same period of previous financial year. Meanwhile, textile's exports also went down by 17.70 per cent during the month of June 2012 against the same month of last year. Country exported textile commodities worth of $1.083 billion in June 2012 against $1.315 billion of June 2011.
It might be mentioned here that industrial sector of the country is facing worst kind of power load shedding (gas and electricity) from last few years, which is resulting in reduction in exports. Similarly, prices of Pakistan-made textile commodities had decreased in international market, which is also one of the reasons for reduction in exports.
According to the figures released by PBS, the product-wise details showed that raw cotton exports increased by 26.65 per cent during the period under review, cotton yarn exports decreased by 18.48 per cent, cotton cloth exports went down by 6.42 per cent, cotton carded exports declined by 64.73 per cent, yarn exports went down by 12.83 per cent, knitwear export declined by 14.37 per cent, bed wear 16.30 per cent, towels 10.25 per cent, tents export enhanced by 110.47 per cent, readymade garments exports decreased by 7.84 per cent, art silk and synthetic textile exports decreased by 10.81 per cent, made up articles export reduced by 6.43 per cent and other textile materials exports increased by 5.65 per cent in July-June period of 2011-12 against the July-June 2010-11 period, according to PBS data.
The source said upcoming government proposed initiatives for short, medium and long-term targets for enhancement of power production which would rid the country of the power crisis.
The sources also said that ending load shedding would be the top priority of the government and he hoped that the energy plan would help government to redress the issue which had hit the country's economy hard. Government chief lauded the support and keenness of the business community for redressing the power crisis and if government continued enjoying support from patriotic businessmen, issues faced by the people at large would be tackled and the country would be on the path of progress.
The upcoming government assured that government would be fully backing this plan to get the country out of the crisis, the source added.The issue of load shedding would be addressed on war footing as he put emphasis on bringing Pakistan's national institutions on par with global standards.
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