Christmas Orders: Textile exporters likely to default

FAISALABAD:

Exporters are likely to default on $4 million worth of textile export orders for Christmas, as the government resorts to three-day a week gas cut to the industry in the wake of increasing gap between demand and supply, claimed officials of Pakistan Textile Exporters Association (PTEA).

Addressing a press conference, PTEA Chairman Rana Arif Tauseef said that the exporters would not be able to meet deadlines for $4 million orders from Europe and the United States of America.

Foreigners place bulk orders to fill their inventory racks in autumn season for Christmas boom every year.

Published in The Express Tribune, December 1^st, 2011.