Pakistan textile sector staggers under double blow

Pakistan’s textile industry, its biggest source of exports and manufacturing employer, could collapse under the double blow of surging fuel prices and chronic power cuts, industry officials say.

Textiles accounts for about 70 per cent of Pakistan’s exports and the sector contributed 8.5 per cent to gross domestic product in the first eight months of the 2007/08 fiscal year to February.

Pakistan faces stiff competition from China, India and Bangladesh because of lower unit prices and quality, and buyers were also worried about the reliability of Pakistani supplies because of instability and militant violence.

EconomicTimes