Provincial authorities challenge Pakistan’s federal government Karachi Textile City closedown decision
Authorities in Pakistan’s Sindh province announced on March 3 they would challenge their federal government’s decision to abort the Pakistan Textile City project.
German retailer KiK paid $5.15 mn in compensation to dependants of workers killed or injured in the 2012 factory fire at Ali Enterprises in Karachi.
US apparel imports (in square metres) grew 3.4% in December 2016 over December 2015, though falls in the previous six months a 2016 annual fall of 1.1%.
Foreign media and Vietnamese businesses almost unanimous in complaining about effect on Vietnamese apparel industry of US abandoning TPP negotiations. But even the Vietnamese admit that its apparel industry exports grew 5.2% in 2016. This, they believe, compares with:
Just about every apparel industry commentator on the planet is constantly going on about rising cost prices. But do any of them look at what buyers are paying?
The US dollar value of Pakistan’s total apparel and textile exports fell in March (by 16.2%) over the previous year for the second successive month.
Pakistan’s March textile exports fell 16% year on year.
China’s President Xi Jinping has signed agreements with Pakistan on April 20 promising investment of $46bn (£30.7bn).
“The industry is incurring an annual loss of around $6 billion due to the presence of second-hand, smuggled textiles and clothing in the domestic market” said All Pakistan Textile Mills Association (APTMA) Chairman S M Tanveer on April 4.
Industrial and Commercial Bank of China “funding Punjabi textiles and industrial development”: Punjabi politician
The Chief Minister of Pakistan’s Punjab province reportedly claimed on March 26 that the Industrial and Commercial Bank of China (ICBC) had “assured investment in energy, infrastructure and textile sectors besides construction of a big industrial city” in his province.
Trade association, unhappy at euro’s “21% devaluation” wants its government to “support the industry by keeping currency at realistic value to mitigate the impact of high cost of doing business for maintaining competitive advantages.”
Pakistani unions claimed on March 13 that a German activist organisation, the European Centre for Constitutional and Human Rights, had filed a suit in the Dortmund High Court against retailers KiK for compensation related to the 2012 Baldia garment factory fire.
…and 90% of its (Surti Textile’s) production is still in Pakistan, claims a Pakistani columnist.
Thanks to Chinese investments, by 2017, “there will be ample electricity available to industrial and household owners” said Pakistan’s Prime Minister, Nawaz Sharif on February 26.