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IFC launches textile project in Pakistan

The International Finance Corporation (IFC) has undertaken an initiative aimed at supporting Pakistan’s textile industry’s efforts to reduce energy consumption with a view to improving sustainability. This will help Pakistan’s textile industry, especially the clothing sector, to resolve energy-related and environmental issues. Advisory services will be provided to the textile sector in Pakistan. Seminars and training workshops for industry stakeholders will be held for letting them know how to reduce energy consumption and achieve sustainability. The IFC has already done this in Bangladesh.

Another issue that remains to be tackled is how to enhance the productivity of the industry. Small and medium entrepreneurs, who account for 95 per cent of the garment industry, need upgraded technology. Pakistan garment sector’s productivity is at least 30 per cent less than that of Bangladesh.

Marketing is another problem faced by the country’s textile and garment sector. More investment and a well-conceived and well-planned marketing strategy are needed to showcase products globally. In this respect Pakistan is far behind Bangladesh and other competitors such as India and China.

Currently, Pakistan’s textile and clothing industry delivers 57 per cent of the country’s total exports. But raw cotton, cotton yarn and cotton cloth exports have shown negative growth of between 18 per cent and 62 per cent.

 
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