KARACHI: Apparel makers-cum-exporters on Tuesday called the 16.56 percent fall in export during Oct 2022 “alarming”, saying the slump has pulled down the textile growth, resultantly.
Textile export receded to $1.335 billion in October 2022 against $1.60 billion in October 2021. They said the decline is “alarming” for the sustainability of economy.
The fall has scaled down growth rate of textile export that had grown 26 percent last fiscal year, Muhammad Jawed Bilwani, Chairman, Pakistan Apparel Forum said.
“This decline of 16.56 percent and increase of 26 percent of last fiscal year shows negative growth,” he said that the government should step up its focus to solving all issues hindering the textile export.
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The economic turmoil, which emerged from the political unrest and “regime change”, has diverted the attention of the government to “unproductive” areas, he said adding that the preference should have gone to the economic development and export growth, instead.
“It is an apathy that half of the textile industry in Pakistan has been deprived of gas even these days when the winter season is yet to come,” Bilwani said, adding that the value-added textile export industries are also facing power outages.
“Such factors adversely affect the cost of manufacturing, making export industries unviable to complete their existing export orders and to negotiate and finalize new export orders,” he added.
He appealed to the Prime Minister, Finance Minister, Commerce Minister and economic team for “saving” value added textile sector.
Copyright Business Recorder, 2022
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