Pakistan,China to jointly modernize Textile Industry

ISLAMABAD: According to the Pakistani government, the textile industry contributes nearly 60 percent to the country’s total exports, rendering it the major industrial sector of Pakistan which plays an important role in the economic growth of the country. In addition to the export, the textile sector has also been serving the local population of about 200 million people. Being a labor-intensive industry, it offers entry-level jobs for unskilled labor, especially in the clothing sector which has been particularly suitable for female workers. Nevertheless, Pakistani industrialists argue that the textile industry of Pakistan faces challenges including lack of product and process innovation and difficulty in obtaining financing for new facilities, looking forward to investment from and collaboration with China to boost the export of textile products and modernize the growing textile industry. Muhammad Amjad Baig, a textile entrepreneur and chief executive officer of Lead International, a consulting and trading company, told Xinhua that China can greatly help modernize Pakistan’s textile industry and reduce trade barriers between the two countries which will ultimately boost the export of textile products from Pakistan. “Lack of product and process innovation, heavy reliance on local and traditional raw materials and technologies, leadership and management skill gaps, compliance issues as perceived by international buyers, high cost of capital and difficulty in obtaining financing for new facilities are some of the major problems the textile industry of Pakistan is grappling with,” Baig said. The entrepreneur said Chinese companies can bring technology and higher skills with them which would improve the productivity and efficiency of the textile sector which largely lacks technically skilled labor and supervisory staff.– The Daily Mail-China Daily News exchange item