Posts tagged ‘billion’

July 1, 2011

Forex reserves ease to $17.47 billion

Bank reserves rise to $3.45 billion.

KARACHI: 

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June 30, 2011

Textile Asia 2010

Pictures available now

cont: mr. farooq

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PRESS RELEASE

Federal Advisor on Textile Inaugurated 7th Textile Asia 2010, Today, amid enormous fervor and enthusiasm at Karachi Expo Center

Karachi, April 10, 2010: Dr. Mirza Ikhtiar Baig, Federal Advisor on Textile, Ministry of Textile Industry inaugurated 7th Textile Asia 2010, the Int’l Textile & Garment Machinery Show. H.E. Mr. Rida El Farsi, Ambassador of Morocco, Mr. Ishtiaq Baig, Honorary Consul General of Morocco, Mr. V.S. Sidhat Kumar, Consul General of Srilanka, Mr. Abdul Ahad Khaliqyar, Consul General of Afghanistan with foreign delegates were also present at the Ribbon Cutting Ceremony. The 3-day Event is organized by Ecommerce Gateway Pakistan.

Textile Asia 2010, the Int’l Textile & Garment Machinery Show is the only UFI (Paris) Approved Event of the industry in South Asia, which provides enormous opportunities of learning, information sharing, mutual cooperation and combined projects to all the stakeholders in the most opportune sector of Textile in Asia.

Textile and Garment are two of Pakistan’s principal industries contributing more than 67% to total export earnings, accounting for around 46% of total manufacturing and employing over 38% of the manufacturing labor force. Over USD 3.5 billion of textile and garment machinery has been imported in Pakistan in the last few years that has significantly improved the quality and productivity of Pakistan textile products in the last few years and the Government of Pakistan is targeting over USD 10 billion of exports of textiles and garments made-ups in the successive years.

The International Textile Asia 2010 International Garment & machinery Exhibition is one of the most promising and enduring Events to be held for the 7th successive year and is proud to be the official event of the Federal Ministry of Textile Industry. The event is being organized at the most opportune time when the government is looking forward to modernize and upgrade the textile sector of the country for better quality products and enhanced productivity. The exhibition aims to focus on the immense buying selling potential of textile & garment machinery, accessories, raw material supplies, chemicals and allied services under one roof.

7th Textile Asia 2010, the Int’l Textile & Garment Machinery Show is being organized with the support of Trade Development Authority of Pakistan (TDAP), Ministry of Textile Industry, Board of Investment (BOI), Government of Sindh, City District Government Karachi (CDGK), China Texmatech Co., China Textile Machinery Association (CTMA), Textile Machinery Manufacture and Accessories Association (TEMSAD), Tuyap Fairs & Exhibitions Organization Inc. Turkey, All Pakistan Textile Mills Association (APTMA), Pakistan Cotton Fashion Apparel Manf. & Exp. Association (PCFA), All Pakistan Textile Processing Mills Association (APTMA), Pakistan Knitwear & Sweater Exporters Association (PAKSEA), Pakistan Readymade Garment Manufacture & Exporters Association (PRGMEA), Pakistan Hosiery Manufacturing Association, Pakistan Bedwear Exporters Association, Pakistan Yarn Merchants Association, Towel Manufacturers Association of Pakistan, Pakistan Commercial Exporters of Towels Association, Korea Trade-Investment Promotion Agency (KOTRA), Pakistan Textile Journal, Jamal’s Yellow Pages and all the related government departments/bodies.

Textile Asia will display revolutionary technologies of more than 349 international brands from 37 countries, besides more than 40,000 trade/corporate visitors and more than 212 foreign delegates are attending the event.

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Speech of the Chief Guest Dr. Mirza Ikhtiar Baig,

Federal Advisor on Textile, Ministry of Textile Industry,

Government of Pakistan at Inauguration Ceremony of

7th Textile Asia 2010 Int’l Exhibition

at Karachi Expo Centre

President Ecommerce Gateway, Dr. Khursheed Nizam, Executive Director Ecommerce Gateway, Mr. Sohail Aziz, Foreign Delegates distinguished guests, My Media Friends, ladies & gentlemen

Assalam-o-Alaikum

Its my privilege to be present at the Inauguration Ceremony of 7th Textile Asia 2010 Int’l Exhibition, the annual Textile and Garment Machinery Show of Textile Industry of Pakistan.

I am delighted to learn that more than 212 foreign delegates are attending Textile Asia this year. I welcome the foreign delegates and encourage them to capitalize from the immense unexplored business opportunities Pakistan offers. 349 international brands from 37 countries are being demonstrated at Textile Asia.

Textile Asia is a landmark event that is in line with the thrust of the government’s agenda to promote investment in the Textile sector of Pakistan. This event fully reflects the investment potential Pakistan offers for modernization of the textile sector and the scale of international participation reflects their confidence in the potential for business and trade in Pakistan; in the present leadership and the future of Pakistan.

This is mainly due to the laxity towards the promotion of value added sector. Pakistan should learn a lesson from Bangladesh, which, by importing yarn and fabrics from Pakistan and other countries, has increased the export volume of Textiles made ups. The new five year Textile Policy (2009-2014) focus to promote Value added sector in Textiles.

Distinguished Guests and delegates;

Pakistan is transforming itself from being a stagnant economy to fast-paced emergent economy as a result of the structural reforms introduced by the present government in the areas of investment, business and trade in

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addition to covering social, political, judiciary and security. The present government’s policies of regularization, privatization and liberalization have given a boost to the industrial and commercial activities in all sectors alike. The results of such initiatives are visible in the form of these successful international exhibitions organized by Ecommerce Gateway.

The geographical location of Pakistan warrants unique proposition to make investments here. As Pakistan lies at crossroads to South Asia, Gulf and Central Asia, it gives direct market access to more than half a population of the world that lives here.

Investors enjoy full legal protection for their investment; have 100 per cent equity with no bar on transfer of dividends which is a proof that Pakistan has one of the most congenial business environments in the region. It is noteworthy that 500 to 600 foreign firms are operating in Pakistan.

Distinguished Guests and delegates;

Now, I would like to draw your attention to what opportunities await for you in the textile sector of Pakistan and will present a brief of the initiatives taken by the present government to facilitate investment in this important sector of Pakistan.

I would like to clarify that no Pakistani Industries are shifting to Bangladesh. The Bangladeshi currency is now stronger compared to the currencies of many countries in the region and their textile & apparel exporters are losing competitiveness due to the strong taka against the dollar. Furthermore they are also facing shortage of natural gas for the industries. Recently they have cut gas supply to their Fertilizer Industries.

LITTLE ABOUT OUR TEXTILE INDUSTRY

The present Global Scenario of Textile Industry with particular reference to the position of Pakistan in the International Textile Market is given here for the interest of our readers. The demand for textiles in the world is around $18 trillion, which is likely to be increased by 6.5%. China is the leading Textile exporter of the world’s total exports of US$ 400 billion. Country wise major market shares of the textile exporting countries are: China: $ 55 billion, Hong Kong:$ 38 billion, Korea: $ 35 billion, Taiwan:$ 16 billion, Indonesia and Pakistan:$ 9 billion.

Though Pakistan has emerged as one of the major cotton textile product suppliers in the world market with a share of world yarn trade of about 30% and cotton fabric about 8%, having total export of $ 7.4 billion which accounts for only 1.2% of the over all share. Out of this Cotton fabric is 0.02%, Made-ups is 0.18% and Garments is 0.15%.

To facilitate business and trade, Pakistan is aggressively taking up with EU and USA to give duty free market access to Pakistani textile products and Honorable Prime Minister of Pakistan is going to Brussels this month for an important meeting with EU in this regard. Pakistan has also raised this issue of market access with US in the recent Pak-US Strategic Dialogues. Moreover, Pakistan is also strengthening economic co-operation with regional countries and have already signed FTA with China and Sri Lanka.

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Textile sector is the backbone of our economy having 55% of our total exports and 38% job creation in the manufacturing sector and holds great importance as it significantly contributes to our exports and foreign exchange earnings. Keeping the said opportunities in view, modernization and up gradation of Textile sector is important to improve the quality of value added products Pakistan exports and to make the country better equipped for competing in the world. In addition, it would also help create jobs; alleviate poverty and assist the present government fight terrorism and extremism.

OUR STRENGHTS ARE:

  • 4th largest producer of Cotton Yarn and Cloth in the World after China which is No. 1.
  • We have signed MOU with Monsanto for BT cotton to improve the yield per acre which is now low and at 13th position in the world.Ranks 2nd in export of yarn and 3rd in export of cloth.
  • We have large spinning capacity – with major part of European, Japanese & Chinese Machinery.
  • Ample availability of cheap labour.
  • Good markets for products.
  • Large domestic market.

WHEREAS WEAKNESSES ARE:

  • Low productivity resulting in high labour costs.
  • Limited skills development facilities.
  • Low value addition
  • Small product and market base
  • Little Research and Development

GOVT. INITIATIVES:

  • Textile City in Karachi
  • Garment Cities in Karachi, Lahore and Faisalabad.
  • Industrial Park in Karachi
  • Dedicated Economic Zones

The present government has identified textile as a key priority area and is making all possible efforts to set the right policies and incentives that encourages private sector investment in value addition and expansion in a bid to gain wider access to the international markets. We have fixed an ambitious target of US $ 25 Billion till 2014 in the new five year Textile Policy with 2 times value addition target.

Pakistan has also embarked on a wide-ranging initiative to increase its attractiveness to foreign investors in the textile sector. The new Textile Policy 2009-2014 announced by the government of Pakistan allows various incentives including concessional financing (LTF) to encourage capital investment in value added textile sector. The government of Pakistan has also withdrawn custom duty on import of plant and machinery by the manufacturing industries and working hard to get duty free market access for our textile products for EU and US markets. Our Textile Industry has invested US $ 6 Billion under BMR during 1999 to 2003.

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Distinguished guests and delegates;

I would like to invite the participants in joint ventures to take advantage of investment friendly environment in Pakistan and exploit the untapped potential textile sector offers as we gear up for increasing our share of value added textile products in the world market.

I assure you that the government of Pakistan will leave no stone unturned to provide an environment that guarantees security of investment made in Pakistan.

In the end, I would like to appreciate the efforts of Dr. Khursheed Nizam & the team of Ecommerce Gateway for organizing this wonderful event. Organization of such exhibitions not only plays an important role in furthering present government’s agenda to attract foreign investment and promote business but also highlights the corrective image of Pakistan as a safe and secure place for business.

I wish Textile Asia 2010 a great success and Foreign Delegates a pleasant stay in Pakistan.

Thank you.

Pakistan – Paindabad.

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June 30, 2011

Strengthening trade: Food exports rise 35% to Rs338 billion

Decreasing quantity of export and higher revenue generation suggests that the increase is more of a fallout of the devaluation against the dollar more than anything else. DESIGN: MOHSIN ALAM

KARACHI: 

Food exports have increased 35 per cent to Rs338 billion in the first eleven months of the current financial year with the largest share of revenues coming from rice.


The total quantity of rice exported was 3.4 million tons, which generated revenues of Rs168 billion. However, it is a worrying factor that the quantity of rice exported dropped by around 10% even though revenues generated showed an increase of 1.24%. The fact that rice export revenues fell 0.7% in dollar terms indicates that the increase is more of a fallout of the devaluation against the dollar more than anything else. This drop would have been even worse had it not been for the increase in the country’s basmati exports.


While rice exports made up about half of total exports in the food group, they were not the reason for the increase in total revenues from this group.


Because of the policy of not exporting wheat one year and then exporting it the year after, revenues from this commodity were Rs41 billion compared to just Rs61 million for the corresponding period last year. The total quantity of wheat exported surged from 3,500 tons to 1.4 million tons and was responsible for a 12% increase in the overall value of food group exports.


The other significant boost to overall exports came from smaller sectors like meat and meat products which registered a 59% increase in rupee terms, increasing from Rs7.5 to Rs 11.8 billion. Tobacco exports almost doubled in rupee terms, generating Rs2.2 billion compared to Rs1.1 billion in the same period last year. Vegetable exports also depicted a healthy increase both in quantity and value. Quantity increased from 427,821 tons to 590,503 tons and revenues increased from Rs9.2 million to Rs17.6 million. Fish and fish products registered a healthy increase of over 20% from 98.142 tons to 119,358 tons and earned the country Rs22.9 billion in revenues, a healthy increase of over 30%.


Fruit exports on the other hand managed to register a 19% increase from Rs18.8 billion to Rs 22.9 billion even though quantities fell by over five per cent from 646,516 tons to 612,952 tons. Spices also registered a fall in quantity, dropping from 15,408 tons top 14,146 tons but revenues increased from Rs3.16 million to Rs3.7 million.


The country earned Rs168 million from exporting leguminous vegetables (pulses), a new entrant to the export list.