Improved energy supply boon for textile sector
Lahore: Aptma’s zonal chairman SM Tanveer said on Wednesday that increased supply of electricity and gas to the industry in Punjab had resulted in growth of textile and clothing exports.
“If government continues its policy of providing uninterrupted energy to textile units in the Punjab, the country can successfully fetch additional export revenues of $3 billion,” he said while speaking at a press conference on Wednesday.
He said that a bullish textile sector growth could reverse growth in the current account deficit and strengthen the currency.
He said that the revival of the capacity of units had helped reduce unemployment to 6pc in December from 6.20pc a year ago.
He said the large-scale manufacturing (LSM) registered growth during the same period from 2.24pc to 5.23pc.
According to him, yarn and cotton cloth export reduced by 9pc and 13pc during last month compared to the same period in 2012.
On the other hand, he said, the value-added sector products had grown between 17pc and 46pc in the same period which was a welcome development.