In under seven ages of its existence it has handled, materializing the idea of a global community. Country working and placing it on the track of the development is very complex task and might requires the decisions making on the basis of the country's past experience and present situation which is actually available in the proper execution data.
February 15, Pakistan has a diverse economy that includes textiles, chemicals, leather products, food processing, financial services, telecommunications, retail, automobile manufacturing, light and heavy armaments, agriculture and other industries. Its service sector accounts for more than half of its GDP.
As the economies in the US and Europe slow down, Pakistan's key exports of textiles and leather products are experiencing a slowdown in growth as well.
The industry is bracing for more trouble ahead with continuing crises of electricity and gas, international market access, global economic slow-down,and adverse travel advisories.
According to Pakistan textile industry association90 percent of Pakistan's textile industry is losing money losses and facing closure. More than two months of production has been lost due to power cuts and gas shortages.
APTMA, Pakistan's textile industry Association established for the promotion and protection of the textile industry, says that the high cost of finance because of the nation's tight monetary policy has added to their continuing woes.
In order to pave the way for the IMF bailoutPakistan's central bank raised its bank lending rate in early November by 2 percentage points to 15 percent. Since interest rates have risen dramatically. Likewise, the bank spread, on a weighted average basis, rose from 2 percent to an excessive 7.
This size of bank spread is among the highest in the world. These high rates were allowed as a policy to restrict money supply to satisfy the IMF conditions.
China tops the US market with a share of 36 per cent followed by Bangladesh 21 per cent, India 18 per cent, Morocco 19 per cent and Pakistan 13 per cent. South Korea has lost 20 per cent of the US market.
In the European market, China tops again with a share of 29 per cent, Vietnam 28 per cent, India 19 per cent and Pakistan only 1. European buyers have told Baig that Pakistani garment manufacturers could cut their cost up to 45 per cent in sewing by improving efficiency.
We also waste 30 per cent in finishing and 12 per cent in washing. That was an internal negative factor whereas external factors included no duty-free market access to the EU and negative image and perception of Pakistan abroad. Baig has asked Werner to submit a proposal for presenting a better image of the textile industry to global brands for achieving collaboration with them.
In response, Werner is working on a three-year plan to help Pakistan garment manufacturers.
While Pakistan clearly needs to diversify and increase higher-value-added exports such as sophisticated machinery and high technology products and services, it is essential for it to maintain and enhance the current export levels of textiles, leather and other products for which there is an established export market.
The export-oriented industries should get preferential treatment in getting access to necessary inputs of raw materials, financing and energy by government policies. Energy and communications infrastructure, in particular, need much greater focus to enable Pakistani exporters to continue to earn the much-needed hard currency.Jun 28, · Presently in Pakistan, Denim Production is on top in Textile Sector due to Export & Garments Industry.
Export of denim has shown a 27% increase per annum in the Dollar value since Denim is now one of the key apparel sectors and the driving force .
Textile industry is considered to be the lifeline of Pakistan’s economy. It plays an astounding role in the exports of the country, constituting nearly 60% with a value of around US$ billion.
Reliance Weaving Mills Ltd. was founded by Mr. Mukhtar Ahmed Sheikh in Pest analysis of textile industry 1. PEST ANALYSISA PEST (Political, Economic, Social and Technological) analysis is a major part ofthe environmental scanning section of strategic management and it is used bycompanies during market research and strategic analysis.
Driving Forces Of Change In Textile Industries Commerce Essay This undertaking is given us as concluding assignment in strategic direction category the subject is “ The drive forces those coercing to alter the fabric industry of Pakistan ” the Pakistan is agriculture basal state and the fabric is the back bone of Pakistan economic system.
Porters Five Forces Model & the Airline Industry Robert Warren 6/11/ Abstract Having conducted research on Porter’s Five Forces Model and the current business climate of the airline industry, I will be analyzing the industry using the Five Forces Model. 6 Why textile industry in Pakistan If anyone thinks about Pakistani exports the first thing comes in the mind is the Pakistani textile products.