In October 2015, Pakistan’s textile exports declined by over 10 per cent as compared to the same month last year mainly due to continuous energy shortage, high cost of production and declining prices globally. According to the latest figures of the Pakistan Bureau of Statistics (PBS), Pakistan’s textile exports were $1.05 billion in October 2015 as against $1.18 billion of the same month of last year, down 10.69 percent. “Due to high cost of electricity, we are unable to give a competitive

Pakistan cotton market witnessed slow move in trading activity on Monday as some spinning mills remained away from making new deals to see latest developments. This indicates that demand is sluggish owing to under utilization of the capacity by the spinning industry. On the other hand, large spinning groups continue to import cotton from neighbouring country and this has also slowed down considerably. The slow off-take of cotton yarn is also forcing spinners to be cautious and keep their product

A review panel of factory inspections yesterday asked ARA/Apparel Exports Limited to suspend production partially. The panel advised the factory to go for detailed engineering assessment (DEA) as it found safety faults. Besides, the panel asked the Finery Limited in Dhaka to conduct DEA in next 10 days. If the factory fails to do it, closure will be the option, the panel warned. Both the garment factories are located in the city’s Darussalam area. Earlier, Accord and Alliance found s

The new interest subsidy scheme for textile exports has been welcomed by the industry, while urging its ambit be widened. The new Interest Equalisation Scheme, earlier termed the Interest Rate Subvention Scheme, on pre-shipment and post-shipment of garments, will boost cotton textile export, said R K Dalmia, chairman, Cotton Textiles Export Promotion Council (Texprocil). The Cabinet Committee on Economic Affairs has approved a three per cent subvention scheme for five years, with retrospec

growing concern for environmental sustainability and conservation around the world, coupled with an increasing demand from the emerging economies and industrial application are the main drivers of growth for the eco fibres industry. According to a recent research conducted by ReportsnReports, the global eco fibres market is projected to reach 74.65 billion dollars by 2020, registering a Compounded Annual Growth Rate (CAGR) of 11.46 percent from 2015 to 2020 with environmental degradation hig

Buyers rushed to replenish their stocks on Wednesday after the Pakistan Cotton Ginners Association announced around 2.4 million bales shortfall in overall cotton production. However, the undertone remained steady, but the outlook uncertain. Floor brokers said initially there was some panic buying by the spinners soon after the release of fortnightly phutti arrivals data, but towards the close some stability was noted. Cotton analyst Naseem Usman said the country produced only 8 millio

Fashion for mothers to be is expected to grow at a Compound Annual Growth Rate (CAGR) of 2.01 percent over the period comprehended between 2015 and 2019. The competition among the players is on the basis of comfort, quality, variety, design and colours. According to recently released study "Global Maternity Wear Market 2015-2019" conducted by Research and Markets, the increase in the pregnant working women population is the key driver for the growth of the maternity wear market. This dem

By 2020, the Indian silk industry can potentially become self-reliant to meet demands of domestic silk market on the back of an annual growth rate of 7.5 per cent. Currently, the Indian silk industry contributes16.12 per cent to the total world silk output. Indian silk production is around 29,000 tonnes. India currently imports 6,000 to 8,000 tonnes of raw silk and silk fabric from China to meet the growing domestic demand of around 34,000 tonnes. The country exports silk worth Rs. 3,000 cror

Although many cotton exporters' shipments have been affected thus far in 2015-16 by weak demand from China, the most notable impact has been felt by Australia, according to the latest cotton report released by the US department of agriculture (USDA). Over the previous four seasons, Australia had shipped nearly two-thirds of its exports to China. However, since the harvest started for the 2015 crop, Australia's exports as a share of the crop are at a 10-year low, largely on very weak import de

PRESIDENT Xi Jinping yesterday told regional economic and political leaders that his government will keep the world’s No. 2 economy growing. In a speech to a business conference on the sidelines of the Asia-Pacific Economic Cooperation summit, Xi said China is committed to overhauling its economy and raising the living standards of its people. China’s growth fell to a six-year low of 6.8 percent in the latest quarter as the government tries to shift the economy away from reliance on trade