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Friday, 08 March 2019 06:51

Pakistan textile industry needs upgradation

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Pakistan needs to improve cotton yields and increase the area under cultivation.
There is a crucial need for Pakistan’s textile industry to up its game where balancing modernisation and replacement as well as skill development are concerned.

The China Pakistan Economic Corridor is likely to result in improved energy supply for the industry, better internal connectivity and logistics as well as new international market linkages. Chinese businesses have shown interest in setting up joint ventures with local partners. But this will benefit only a handful of players given that the majority of the firms operating in Pakistan’s garment sector are small and medium enterprises, unable to invest at the scale Chinese companies usually operate at. However, technology and skills transfer is absolutely necessary and for that the presence of a high value added textile industry in Pakistan is a prerequisite. Detailed plans need to be made which take into account the strengths of Pakistan’s domestic industry and facilitate Chinese help in weaker areas especially technology.

Competition is on the rise in global apparel and textile markets and things are going to heat up even more. Countries like Vietnam, Cambodia and Sri Lanka have become the new disruptors and are vying to get a bigger share of the global textile pie.