Page 5 - TEXtalks. September-October 2022

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Lessened textile sector woes, the light at the
end of tunnel for Pakistan’s textile industry;

5th edition of Inspiring change with great

Success in Lahore Pakistan

The significance of energy for the country were on the decline from
textile industry could be judged by 2014 to 2020. The only increase
the fact that the recent sharp gas during this period was to the EU.
and electricity price increases The EU ambassador is currently
caused by the war in Ukraine have visiting trade associations to press
Editor-in-Chief added to the woes of the textile businessmen for pressing the
Yousaf Fareed industry in Europe, which is heavily government to comply with all the
dependent on energy. Despite EU conventions in letter and spirit.
Editor several billion euros in government
Hassan Saeed aid pledged for textile firms, The EU's Generalised Scheme of
industry executives are calling for a Preferences (GSP), created
Sub-Editor coordinated European plan to following UNCTAD
Dr Sharjeel Abid avert distortions in competition. recommendations in 1971, helps
Arooj Sajid Director General Euratex Dirk developing countries (DC) by
Vantyghem said, “That would avoid making it easier for them to export
Advisory Board: creating competition among their products to the European
Dr. Tanveer Hussain European countries.” Union. This is done in the form of
Dr. Muhammad Tausif reduced tariffs for their goods
It may be noted that the outgoing when entering the EU market.
Marketing government has been very
Memona Karim supportive to the textile industry Pakistan’s textile exports have
Anusha Abid throughout its tenure of four years. witnessed growth from 2012 to
This continuous support has not 2022, crossing $19 billion against
Layouts only increased textile exports but around $13 billion back in 2013.
Faizan Khan also led to a commitment on the Ahead, Pakistan can potentially
part of the textile sector to increase textile exports to $35
Circulation unprecedented value addition by billion in the next five years if the
Abrar Hussain committing to setting up 1000 country maintains consistent
garment plants. Each plant will policies.
Address consist of 500 stitching machines
C-302, City Towers at an investment of $7 million; able Continuing the legacy, TEXtalks
Main Boulevard, Gulberg II to produce garments for exports of International organized the 5th
Lahore-Pakistan $20 million per annum, while Inspiring Change Conference (ICC)
generating employment for 700 2022 on the 31st of August 2022 in
Phone: + 92 42 35 788 700 workers. The total investment Pearl Continental Hotel, Lahore
Fax: + 92 42 35 788 700 would be US $7 billion generating Pakistan. ICC 2022 witnessed a
annual exports of $20 billion and huge success as more than 700
Email: info@textalks.com providing employment to well over international and national
Skype: textalks 700,000 workers. A thousand participants graced the event with
garment plants will be established their presence. With each passing
www.textalks.com near major textile-producing cities. year, the ICC event is getting more
popular across the textile value
The GSP+ concessions have chain of Pakistan as it focuses on
helped Pakistan increase its textile the challenges faced by the textile
exports to the EU. Pakistan's textile world and brings experts to guide
exports increased even during the the stakeholders on how to ride the
period when total exports of the ships out of the storm.

September/October 2022 September/October 2022