Well-informed sources revealed on Tuesday that over the past year, more than 15-20% of Pakistan's textile export orders have been transferred to Bangladesh, India and Sri Lanka due to insufficient supply of natural gas and electricity. Due to frequent power outages, textile entrepreneurs find it difficult to complete export orders in a timely manner. As a result, foreign buyers turned their export orders to neighboring countries, causing huge losses to Pakistan.
The textile industry is Pakistan's main source of income. The current stage is a very crucial historical period for the textile industry. The textile industry relies on cotton, but due to recent floods, cotton production has suffered losses.
In the 2011-12 fiscal year, the cotton crop was damaged. Due to devastating floods in 2010, production fell to 11.7 million bales and the target was 14 million bales.
Although the recent flooding in southern Sindh caused huge cotton losses, Pakistan’s cotton production in 2011-12 is still expected to reach 1200-1250 million bales. More than last year's output. However, informed sources said that Pakistan still needs to import 1.5-2 million bales of cotton from neighboring countries, such as India and China, to meet domestic demand.
They said: “Since electricity prices and natural gas prices have risen every day, the cost of production of textile products has also increased every day. Pakistan’s electricity price per unit is 12 cents, while Bangladesh’s price is 7 cents per unit. Similarly, Pakistan has 16 cents per cubic meter of natural gas. And Bangladesh has 7 cents per cubic metre.
In addition, in Bangladesh, textile companies purchase textiles at home and receive a 10% cash subsidy. Almost 50% of textile export orders were obtained from Karachi. As we all know, the law and order in the city of Lakaki has continued to deteriorate. Therefore, buyers prefer to abandon Pakistan in neighboring countries such as India and Bangladesh.
The textile industry is Pakistan's main source of income. The current stage is a very crucial historical period for the textile industry. The textile industry relies on cotton, but due to recent floods, cotton production has suffered losses.
In the 2011-12 fiscal year, the cotton crop was damaged. Due to devastating floods in 2010, production fell to 11.7 million bales and the target was 14 million bales.
Although the recent flooding in southern Sindh caused huge cotton losses, Pakistan’s cotton production in 2011-12 is still expected to reach 1200-1250 million bales. More than last year's output. However, informed sources said that Pakistan still needs to import 1.5-2 million bales of cotton from neighboring countries, such as India and China, to meet domestic demand.
They said: “Since electricity prices and natural gas prices have risen every day, the cost of production of textile products has also increased every day. Pakistan’s electricity price per unit is 12 cents, while Bangladesh’s price is 7 cents per unit. Similarly, Pakistan has 16 cents per cubic meter of natural gas. And Bangladesh has 7 cents per cubic metre.
In addition, in Bangladesh, textile companies purchase textiles at home and receive a 10% cash subsidy. Almost 50% of textile export orders were obtained from Karachi. As we all know, the law and order in the city of Lakaki has continued to deteriorate. Therefore, buyers prefer to abandon Pakistan in neighboring countries such as India and Bangladesh.
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