(MENAFNEditorial) mainly as a result of political unrest and economic difficulties. It has operated with inefficient units antiquated manufacturing machinery and disruptions to its energy supplies which have had a particularly adverse effect on its output.
Complete report available @ Prospects for the textile and clothing industry in Pakistan May 2015.
Also the industry faces an increasing number of competitive threats from the textile and clothing industries in other Asian countries. On the positive side however the industry stands to benefit from duty-free access to European markets following the granting of GSP+ status by the EU. In recognition of the urgent need to update the industry the Pakistani government has given support to the Balancing Modernisation and Replacement (BMR) programme through which obsolete machinery is being replaced with the latest manufacturing equipment. Also in a document entitled Textiles Policy 2014-19 the Ministry of Textile Industry has outlined a number of key objectives for the five years to the end of the 2018/19 financial yearincluding substantial new investment an emphasis on products with higher added value and a new focus on developing a skilled workforce. Furthermore the Pakistani government is developing incentives to attract foreign direct investment (FDI) to the textile and clothing industry in Pakistan.
Contact:
Debora White
Manager - Marketing
debora@reportstack.com
Ph: +1-888-789-6604
Reportstack Market Research
###
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.