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2011

Critical factors for the growing of textile industry in Pakistan

Author:Muhammad Naeem Shahid, Salman Arshad and Saad Bin Nasir

Abstract:
The purpose of research was to study the most important factors that are causing growth of industry and then suggest a plan of action that could be followed in response to the existing decline Of textile growth in Pakistan. The Pakistan textile industry contributes more than 60 percent (US $ 9.6 billion) to the countryï¿½s total exports. However, currently this industry is facing great decline in its growth rate. The major reasons for this decline can be the global recession, internal security concerns, the high cost of production due to increase in the energy costs etc. Depreciation of Pakistani rupee that significantly raised the cost of imported inputs, rise in inflation rate, and high cost of financing has also effected seriously the growth in the textile industry. As a result neither the buyers are able to visit frequently Pakistan nor are the exporters able to travel abroad for effectively marketing their products. With an in-depth investigation it was found that the Pakistanï¿½s textile industry can once again be brought back on winning track if government takes serious actions in removing or normalizing the above mentioned hurdles. Additionally, the government should provide subsidy to the textile industry, minimize the internal dispute among the exporters, withdraw the withholding and sales taxes etc. Purchasing new machinery or enhancing the quality of the existing machinery and introducing new technology can also be very useful in increasing the research & development (R & D) related activities that in the modern era are very important for increasing the industrial growth of a country.