Imports of Textile Machinery in Pakistan Are At Record Lows

According to Business Recorder, a Pakistani publication, the import of textile machinery in Pakistan fell by 59 percent in March, which was mainly because of a significant decrease in textile exports and output.

With strict laws and energy shortfalls, investors are now ready to relocate their existing manufacturing to countries like Bangladesh and elsewhere in the world, where conditions are more favorable. Pakistan’s import of textile machinery fell by 59 percent in March 2012 to 19,4 million dollars. In March 2011 textile machinery imports netted out at 47,1 million dollars, according to Pakistan Bureau of Statistics.Compared to February 2012, the imports of machinery fell from 45,3 million dollars.

Looking at the statistical data for the fiscal year starting on July 1, Pakistan imported textile machines for 316 million dollars in the 11-12 fiscal year, which is a decrease of 56.25% from the same period in the 10-11 fiscal year.

Local specialists and market experts say that the present negative business environment does not motivate investors to expand their existing factories and plants, but rather have them relocate their businesses in countries with reliable sources of energy and business-favoring government policies.

Source: Business Recorder [www.brecorder.com]