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Pakistan’s machinery imports down 9 per cent

Pakistan’s imports of textile machinery fell nine per cent during July to August 2015. Imports of construction and mining machinery fell by three per cent. Imports of construction and mining machinery rose by 15 per cent. Electrical machinery and apparatus imports rose by 28.27 per cent.

The government grants exemption of customs duty on the import of a wide range of textile machinery and equipment including machines for extruding, drawing, texturing or cutting manmade textile materials and textile winding (including weft-winding) or reeling machines.

The textile sector is the backbone of Pakistan’s export economy. It comprises 521 textile units. Pakistan is the fourth largest producer of cotton and the third largest consumer. It contributes nine per cent of GDP and employs 38 per cent of the workforce in the manufacturing sector.

Pakistan’s imports of textile machinery increased by 58 per cent from July 2013 to May 2014. The aim was to replace old machinery with new imported ones, more modern, more sophisticated, offering a superior technology, in order to increase the output of textile manufacturers.

The country is in the process of developing the entire textile value chain at par with international best practices, expanding the textile sector to produce value-added garments along with new innovative products, and developing a state of the art infrastructure.

 
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