Cotton: Steps being taken to enhance production
Commerce minister says exports are falling, in need for attention
PHOTO: REUTERS
ISLAMABAD:
Pakistan’s textile growth has witnessed a negative growth of 7.72% during the first 10 months of the current fiscal year, compared to the corresponding period of last year, said Minister for Commerce Khurram Dastgir Khan
Responding to a notice moved by Muhammad Ateeq Sheikh, he said that textile exports during the July-April period were recorded at $10.395 billion compared to $11.265 billion in the same period last year, according to the Pakistan Bureau of Statistics.
“Textile products that contributed negative growth of textile trade, included cotton yarn, exports of which dropped by 32% from $1.590 billion last year to $1.081 billion during the current fiscal year,” said Khan.
The commerce minister said the government had taken various measures for increasing cotton production and subsequent exports. “The quality of cotton seeds would be enhanced. The government also shifted its focus to give priority to value addition of cotton products.”
Cotton clothes export had increased by 4%, however, decline was reported in value of cotton products, Khan said.
Though the quantity of cotton exports had increased by 10%, its value had decreased, he added. In his notice Sheikh said the textile sector was in trouble and urged the government to rectify the situation.
Published in The Express Tribune, June 16th, 2016.
Pakistan’s textile growth has witnessed a negative growth of 7.72% during the first 10 months of the current fiscal year, compared to the corresponding period of last year, said Minister for Commerce Khurram Dastgir Khan
Responding to a notice moved by Muhammad Ateeq Sheikh, he said that textile exports during the July-April period were recorded at $10.395 billion compared to $11.265 billion in the same period last year, according to the Pakistan Bureau of Statistics.
“Textile products that contributed negative growth of textile trade, included cotton yarn, exports of which dropped by 32% from $1.590 billion last year to $1.081 billion during the current fiscal year,” said Khan.
The commerce minister said the government had taken various measures for increasing cotton production and subsequent exports. “The quality of cotton seeds would be enhanced. The government also shifted its focus to give priority to value addition of cotton products.”
Cotton clothes export had increased by 4%, however, decline was reported in value of cotton products, Khan said.
Though the quantity of cotton exports had increased by 10%, its value had decreased, he added. In his notice Sheikh said the textile sector was in trouble and urged the government to rectify the situation.
Published in The Express Tribune, June 16th, 2016.