News

Home >> News >> News

400 textile mills facing closure in Pakistan!

Author: name From: name Modify: Jun. 17, 2020
Jul. 11, 2022
Share:

Garment exports from Bangladesh to the United States may be hit by restrictions imposed by the United States on goods from China's Xinjiang region, foreign media reported. The move follows a directive issued by the Bangladesh Garment Buyers Association (BGBA) asking its members to be cautious about sourcing raw materials from Xinjiang.

According to a BGBA statement, the USAID-funded Regional Assessment mission of the Indo-Pacific Opportunities Program informed the BGBA that any garments produced in Bangladesh that are made with fabric imported from Xinjiang cotton cannot enter the United States. If any products are found to have any connection with Xinjiang cotton, they will be confiscated. If confiscated, the exporter will not receive their payment. It is learnt that the delegation also held a meeting with the Bangladesh Textile Mills Association (BTMA). Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) says manufacturers are closely monitoring the problem and many of them have found alternatives to imported yarn and fabrics.

While domestic knitters can source yarns and fabrics from local markets, shuttle knitters, who import most of their fabric needs, may face some challenges. But Bangladeshi mills, which import raw cotton mainly from African countries, India and the United States, face no challenge. Bangladesh's yarn imports reached $2.1 billion in 2021, up 150 percent year-on-year, with 84 percent coming from India, 8 percent from China, 4 percent from Indonesia and 3 percent from Turkey. Grey fabric imports were $1.8 billion, down 30.7 percent from the same period last year, due to a significant increase in yarn imports.

And Pakistan's textile industry is suffering! The local textile industry is expected to lose at least $1 billion in exports in the first half of July due to power outages and shortages of natural gas and electricity.

According to the Pakistan Textile Mills Association, the textile industry will not only lose more than 50 percent of its output due to the half-month shutdown, but will also be forced to borrow $6 billion from overseas due to energy supply and cost constraints, and risk losing orders, customers and default losses. At present, the serious damaged areas for Pakistan peng province, textile mills accounted for 70% of the country, the region has 400 home textile factories face closure, thousands of people lost their jobs, and for the next fiscal year of $26 billion an adverse effect on the export target, the consequences of association has left the matter to submit to the prime minister energy supply is resumed as soon as possible.

Source: China Cotton Net

Disclaimer: The content and pictures of this article are reproduced, and have indicated the source, only for exchange and learning, the copyright of the article belongs to the original author, the content is the original author's point of view, the reproduced article has indicated the source, such as copyright issues or do not want to reprint, please leave a message to contact us, we will delete in the first time.


  • wbl-textile2004: wbl-textile2004

Chat with Us