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PRGMEA: Bangladesh capturing Pakistan's export share

According to Shaikh Mohammad Shafiq, Chairman, Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA), at present total export of Bangladesh is 33 billion USD out of which textiles is 27.5 billion USD which includes 26.5 billion USD of Garments only. He said, we feel our share has been taken by Bangladesh. We need to fight for it and bring it to our advantage. Their exports are now increasing at 3.5 billion USD / Year and expected to hit 50 billion USD / Year by 2020, and whatever they have been giving in their budget estimate in last three years is coming true.

Pakistan ranks 138 out of 189 on ease of doing business, while last year it was 136. The cost of making garment in Pakistan is almost double ie, US $2.7 in Pakistan and US $1.5 in Bangladesh. The 60 per cent cost component of wages has a vital impact which is 2 times in Pakistan, the other costs that includes energy and financials also burdened due to high tariff.

PRGMEA Chairman continued to cite Government must realize that time has gone when raw material used in textiles (yarn, fabric etc) could be exported. This trend is not going to continue and it is the reason Pakistan is facing serious downfall. Countries have to use their raw material and export only possible in the form of finished products ie., Garments. We must believe in concept that countries have to be completely vertically integrated to use their raw materials in completely finished product.