Textile Briefs National.
1. As per the United States Department of Agriculture, Pakistan is no longer the fourth largest producer of cotton as Brazil has recently overtaken it.
2. During the past two years Pakistan have steep plunge in imports of textile machinery once again. Textile machinery imports for FY18 clocked in at $325 million which is the lowest since the bottom of $252 million in FY09.
3. Textile sector recorded the highest amount of non-performing loans (NPLs) at Rs185.6 billion in 2QCY18 with an infection ratio of 18.9%, reported the State Bank of Pakistan in Statistical Bulletin-December 2018.
4. US-based Tukatech opened three computer design labs in October for digital pattern, textile, and apparel design, including 50 TUKAcad stations for digital pattern-making and several TUKA3D stations for virtual sample-making at the National Textile University (NTU) in Faisalabad.
5. Federal Minister for National Food Security and Research Sahibzada Muhammad Mehboob Sultan said that a long-term strategy is being devised to meet the needs of textile industry in the country. The minister in a statement said all available resources would be mobilized in collaboration with provinces to achieve the set target of 15 million bales cotton production next year.
6. The All Pakistan Textile Mills Association (APTMA) urged the government to settle more than Rs 100 billion in outstanding sales tax refunds that have resulted in a serious liquidity crunch for manufacturers and exporters.
7. Organic cotton cultivated in Pakistan, primarily in Balochistan, will be certified by global agencies from next year, the World Wildlife Fund-Pakistan (WWF-P) and the Karachi Cotton Association (KCA) announced in February.
8. State Bank of Pakistan (SBP) in a recent report observed that with adequate availability of raw materials in the country, Pakistan could have excelled in global synthetic textiles market such as Vietnam, Bangladesh, and Cambodia, which are leading exporters of synthetic textiles following China.
9. Chief coordinator Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Ijaz A. Khokhar urged upon the government to take effective steps for making the value-added textile industry competitive and vibrant in global market.
10. As the tariff war between China and the United States has not eased, Pakistan's textile industry is likely to get higher orders from US importers. Pakistan's textile industry is receiving a large number of import queries from the US.
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|Title Annotation:||Pakistan named fourth in cotton production; import of textile machinery in Pakistan; bank reports on non-performing loan ratio in the textile industry|
|Publication:||Pakistan Textile Journal|
|Date:||Feb 28, 2019|
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