INP-WealthPk

Pakistan’s Apparel Industry Needs Proper Marketing, Investment

May 30, 2022

By Ayesha Mudassar ISLAMABAD, May 30 (INP-WealthPk): Experts believe that Pakistan's textile and apparel industry can reach new heights with proper marketing and investment. Talking to WealthPK, Mr. Yaseen, General Manager at the MTM Masood Textile Mills, said by attracting the attention of overseas buyers, Pakistan could increase its share of textile exports. He underscored the need to focus on value addition to boost profit margins in the export market. Entrepreneurs should remain up-to-date with modern requirements and be aware of the continuously evolving trends in the global market, he added. In order to maximize the sector's export potential, large investment in machinery, access to high-quality raw materials, improved skill set, lower input costs, and product development are required, he added. Mr. Suhail, General Manager at Klash Private Limited, told WealthPK that it is imperative to concentrate on production of raw materials that are being imported from different countries. This would help in lowering the production cost of our export items. Furthermore, the industry has also invested in imports of textile machinery, synthetic fibre, raw cotton, artificial silk yarn, worn clothing, and other textile items. According to the data released by the Pakistan Bureau of Statistics, the country earned $15.98 billion in textile and apparel exports this year, compared to $12.68 billion in exports from July to April 2021-22. In April, textile exports surged to $1.73 billion compared to $1.33 billion in the same month last year, registering almost a 30.5% growth. Amongst the value-added sector, ten-month exports of readymade garments went up by 27.95% to $3.24 billion from $2.51 billion, knitwear increased by 35.14% from $2.78 billion to $3.72 billion, bedclothes by 19% to $2.72 billion from $2.29 billion, and towels by 19.46% from $776.7 million to $927.8 million. Textile and garment production is Pakistan's most important and largest industry, accounting for 46 percent of overall manufacturing. The importance of this industry is demonstrated by the fact that it accounts for 61% of exports, employs 40% of the workforce, and accounts for 10.20% of GDP. The industry also supports over 10 million farming families, reflecting Pakistan's role as a significant producer of raw cotton. Pakistan’s textile industry has the potential to generate higher revenue. The policymakers and economic experts should devise an effective economic strategy to boost the apparel industry exports. Also, the government should focus on attracting foreign investment and modernizing the existing manufacturing facilities.