'Textile industry suffered loss, yet produced beyond expectation'

Muhammad Aasim Shah, Chairman of All Pakistan Bedsheet & Upholstry Manufacturers Association (APBUMA), has said that the textile industry, particularly spinning ,weaving industry, suffered a loss in 2009 due to certain reasons but even then produced more than expected.
He highlighted the achievements of the textile industry in poor conditions and said the textile industry contributes up to 60 percent of exports of the country, and it fetched more than $12 billion in 2008, but in 2009 the exports dropped to $9 billion. He said this was due to many crises in the country and one of major reasons was the state of law and order in the country.
"The president and prime minister of Pakistan admitted at the start of 2009 that we are in a state of war," he said, adding that it was the reason the exports declined and it proved a very hard year for the textile industry. He said security issues, power crisis, gas shortage and bank interest rates added fuel to injuries of textile sector.
"We have to face closure of more than 75 days in one year, and it had a negative impact on our production," he said. He said that in such situation the textile industry coped with the situation and came up with maximum potential. He said that in October, Textile Policy was announced, and potential of textile sector was accepted.
He said Pakistan's spinning industry is worth $7 billion and third largest in the world after China and India. He said the industry exports yarn after meeting local demands. He said the textile sector was facing heavy interest rates and it gave negative impact on the sector.
"In the textile policy, it was decided that the industry would be given priority in gas and electricity supplies. The promise was fulfilled in November but from December once again the sector had to face the power crisis," he said. He said the industry was facing eight to 10 hours of load shedding and it was for the first time in history that APBUMA along with SNGPL started an awareness campaign for using less gas in winter.