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Friday, March 29, 2024

APTMA hopes for betterment in exports from this month

The textile industry has apprised the federal government of its target of achieving 45pc exports in May and 55pc exports in June. Shahid Sattar, Executive Director, All Pakistan Textile Mills Association (APTMA) in his letter to Abdul Razak Dawood, Adviser to Prime Minister on Commerce, stated that the above-mentioned target may be difficult keeping in view that the demand in the USA and Europe has been limited to online sales only.

He maintained that the textile exports fell by 64pc in April as compared to the same month of last year, which means the textile industry was able to export 36pc of its capacity even during the lockdown period (closure of markets and transport services).

“Our small redeeming factor is that a lot of our industries have picked up on new lines of supplying hospital and PPE apparel and have garnered a fair share of the market, Sattar stated and appreciated the role of the adviser in getting necessary approvals in this regard from the Drug Regulatory Authority of Pakistan.

The executive director said apart of a shortfall in demand, another serious hurdle in the path of export recovery is the complete lack of liquidity in the market.

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