Syrian state-run textile industry has lost 32 million dollars in recent years, the ruling party's Al-Baath newspaper reported Sunday, slamming the figure as "catastrophic".
"The state textile industry has registered losses of 1.622 billion Syrian pounds (32 million dollars / 26.2 million euros) while some companies made a profit of only 78 million pounds (1.5 million dollars)," the daily said.
It said the losses accumulated before the end of 2003, but did not specify a time period.
The textile industry is traditionally considered a pillar of the Syrian economy, but has been hamstrung by "high production and energy costs, as well as high levels of waste," Al-Baath said.
It added that some members of the industry "feared introducing reforms that could enhance its performance."
Syria has in recent years implemented reforms to develop its private sector, but the government insists that state industries will not be privatised.
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