APTMA to set up new 100 textile units

APTMA and all textile industries have decided to pay international parity prices to domestic farmers to help them sustain themselves. APTMA has also set up the APTMA Cotton Foundation (ACF) to improve the cotton sector' s performance. The foundation aims to promote model farming techniques by creating cotton clusters and centers of excellence.

Pakistan fully utilizes its domestic cotton supply by exporting 84 per cent of the apparels made from cotton. The country' s synthetic fiber market is also booming with demand for athletic wear rising. However, it needs to upgrade its production techniques to compete in this market. It hopes, incoming investments will help in upgrading the industry' s technology and capture a higher share in the synthetic fiber market.

The current currency pressures in the industry can be attributed to the previous lack of investments. It is threatening to slow the growth pace of the large scale manufacturing sector in the Pakistan.

The textile sector accounts for 60 per cent of Pakistan’s total exports. The sector needs consistent support and investments to achieve economic growth. It aims to boost exports by setting up 100 new textile units with an investment of $5 billion.