Way for­ward for tex­tile in­dus­try

Enterprise - - Editor’s desk - Al­bert Sa­muel Islamabad

The in­ter­view of Gul Mo­ham­mad Tabba, CEO Lucky Tex, of­fered in­ter­est­ing new in­sights in Pak­istan’s tex­tile sec­tor and its unuti­lized po­ten­tial. We are gen­er­ally over­loaded with fig­ures of the tex­tile trade’s rise and fall, but the con­tribut­ing fac­tors are less known. The ex­am­ple of Bangladesh which has a tex­tile sec­tor that is fa­cil­i­tated through low cost fi­nanc­ing, power and util­i­ties, cheap labour, bet­ter en­trepreneur­ship and per­for­mance of ex­port con­tracts, should serve as guid­ing prin­ci­ples for Pak­istan’s tex­tile in­dus­try as well. Tabba’s sug­ges­tion of ex­port­ing Value Added Tex­tiles rather than raw tex­tile prod­ucts is per­ti­nent in at­tain­ing higher prof­its. The ac­cept­abil­ity of prod­uct price in­crease by in­ter­na­tional buy­ers and the pos­si­bil­ity of the Euro­pean Union to lift­ing anti-dump­ing duty on Pak­istan’s tex­tile prod­ucts, can lead to the in­dus­try’s long-term sustainability. Lucky Tex’s prac­ti­cal ap­proach must be ap­pre­ci­ated

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