The National Textile Committee (NTC) is going to prepare a detail report on problems faced by textile industry in couple of days.
NTC is formed, taking into consideration Textile Vision 2005, by Prime Minister Shaukat Aziz for assessing potentials of the textile sector on a long-term basis.
During first quarter of 2006, exports of textile sector declined by more than 10 percent. Most of the textile products witnessed a negative growth during this period. For the first two months of fiscal year export of readymade garments declined by 3.63 percent.
Industry is also affected by increasing interest rate and profitability also declined sharply eventhough number of incentives are offered by the Government. Borrowing by textile sector also declined by 28 percent last year.
Committee would be able to complete report by end of November and will be submitted to the Prime minister for its implementation.
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