Foreign buyers of Pakistan’s value-added textiles are apprehensive about the
tense situation between Pakistan and India, hoping for de-escalation soon,
textile exporters said while speaking to Dawn on Tuesday.
“Our European and American buyers are getting nervous. We are receiving
calls from our European buyers almost on a daily basis since the February 26
Indian airstrikes (in Balakot, Khyber Pakhtunkhwa) in a major escalation
between the two countries; they’re anxious about a timely delivery of their
summer shipments (because of escalations),” said Pakistan Readymade
Garments Manufacturers and Exporters Association (PRGMEA) Leader Ijaz
Khokhar.
Pakistan’s sagging textile exports that form almost three fifth of the country’s
total foreign sales have recently edged up slightly on the back massive rupee
devaluation of 30 per cent in last year and significant reduction in the
electricity and gas prices for Punjab’s textile exporters.
Most exporters of value-added textiles – garments, knitwear, home textiles,
made-ups, etc – from Punjab claim that they are booked to their full capacity
until May this year, expecting a major turnaround in revenues.
But some say the delay in de-escalation could hurt the country’s chances of
procuring orders for autumn and winter seasons. “The continued aggressive
stance of India in spite of consistent peace overtures from Islamabad could
force some of buyers to other countries,” Mr Khokhar said.
M.I. Khurram, a knitwear exporter, said, “Apart from the delay caused by the
closure of Pakistan’s airspace in the import of textile trims – buttons,
zippers, labels, etc –, we are okay so far.
Foreign companies are nervous about the situation but they are hopeful that
it will return to normal in a couple of days. We are also hopeful that sense
will prevail.”
Source: The Dawn, Pakistan Thursday, 07 March 2019