Pakistan's textile exports continue to decline, the country faces huge challenges

According to Pakistan’s 'Forum Express' report, Pakistan’s Ministry of Commerce stated that Pakistan’s continued decline in exports is a huge challenge to the country. Pakistan’s textile industry lacks innovation and competitiveness. It should focus on improving the Ru0026D and innovation of textile products and pay more attention to brand awareness. And product output to return to the center of the world textile industry market.　　 The report pointed out that the Pakistani government and textile industry have been widely criticized for several years due to the continuing decline in exports. When receiving representatives of the Textile Industry Association on Wednesday, the Ministry of Commerce stated that the textile sector has always been completely dependent on the government. If this mentality has been maintained, it will be difficult for the Pakistani textile industry to compete with Bangladesh and India. In the 2016/17 fiscal year, the government provided 250-300 crore financial support to textile exporters, which will increase to 700-800 crore in the new fiscal year. In addition, the government has also launched the 'Pakistan Brand' program to promote Pakistan's corporate image overseas, and will host the Pakistan Expo in November to attract global businessmen and investors. Industry representatives attending the conference said that the government still plays an important role in supporting the export of the textile industry. Pakistan's cotton production has been stagnant for the past 25 years. In 1991, cotton production was 11.5 million bales. By 2017, the output had fallen to 10.7 million bales, a decrease of 7%. During this period, India's cotton production increased from 10.6 million bales to 34 million bales, an increase of nearly 220%. The export performance of Pakistan's textile industry also lags behind other countries. In 1990, Pakistan's textile industry exported 3.67 billion US dollars, and in 2017 it exported 12.45 billion US dollars, an increase of 239%; while India increased from 4.71 billion US dollars to 36.63 billion US dollars during this period, an increase of 677% ; Bangladesh has increased from 980 million US dollars to 30.24 billion US dollars, an increase of nearly 30 times. In terms of tax rates, Pakistan’s industrial gas prices are 126%, 62.87%, and 26.5% higher than Bangladesh, India, and Vietnam, respectively; industrial electricity prices are 22.2%, 22%, and 37.5% higher than Bangladesh, India, and Vietnam, respectively; industry representatives Said that the government needs to further reduce electricity and gas prices, otherwise the country will find it difficult to improve exports. Article Keywords: 　Indian Cotton