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Textile Industry of Pakistan - Industry Overview

The textile industry in Pakistan has grown significantly since 1947, with the number of spinning factories increasing from 6 to 503 due to reduced import tariffs. Textiles are now Pakistan's most important industry, accounting for 60-65% of annual foreign exchange earnings, approximately $5.5 billion. However, the current situation in the textile industry is not promising due to increasing cotton prices and costs of electricity and sales tax, while cotton yarn prices decrease.

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36 views1 page

Textile Industry of Pakistan - Industry Overview

The textile industry in Pakistan has grown significantly since 1947, with the number of spinning factories increasing from 6 to 503 due to reduced import tariffs. Textiles are now Pakistan's most important industry, accounting for 60-65% of annual foreign exchange earnings, approximately $5.5 billion. However, the current situation in the textile industry is not promising due to increasing cotton prices and costs of electricity and sales tax, while cotton yarn prices decrease.

Uploaded by

Zain4u
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Textile Industry of Pakistan Industry Overview

Textile industry in last years has grown very fast. In 1947, there were only 6
spinning factories in Pakistan, which have now grown to the figure 503. The
main factor behind the growth was the reduction in duties. The import tariff on
cotton factories was reduced from 85% to 50% in 1985 and then to 20% in
1988. Also, in 1988 the restrictions on renewal and expansion of spinning and
weaving factories were removed.
Pakistan is now the fourth largest cotton grower in the world behind China,
USA and India. Textile has become the most important industry for earning
the foreign exchange. It accounts for 60-65% of the foreign exchange earned
in a year, which is approximately $5.5 billion.
Current situation in the textile industry is not very promising. The process of
cotton has increased in the recent period, in addition to this the electricity and
sales tax have also increased. Cotton yarn price is decreasing and other input
prices are increasing.
The textile process given below describes the activities taken in the textile
industry

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