Sri Lanka Continues To Compete With Bangladesh In Low-Cost Clothing Factories In Pakistan.

Sri Lanka contends with low cost garment factories against Bangladesh

At present, Sri Lanka garment industry is striving to build up a low cost and low cost garment factory in rural areas to compete with neighboring Bangladesh.

According to the local clothing industry, compared with Bangladesh, Sri Lanka's annual export orders due to higher production costs are about $1 billion.

Therefore, Sri Lanka hopes to improve the production facilities to make up for the loss of clothing exports every year.

The Sri Lankan government has discussed with the Asian Development Bank (ADB) about the funding for the plant, and the new plant is expected to cost about $100 million.

"We are going to set up a small 100~150 factory, of which there are about 250 workers in each factory," said Channa Palansuriya, deputy director of Sri Lanka garment industry agency JAAF.

"Big companies do marketing to attract orders, and small factories will focus on completing orders."

Although the project is still in its initial stage, Sri Lanka is confident that "we are negotiating with ADB, and ADB supports our plan to build factories, create jobs and contribute to the overall economic growth in the countryside."

Palansuriya said.

Pakistan's textile exports amounted to US $2 billion 164 million in the first two months of this fiscal year.

Data released by Pakistan Statistical Bureau showed that the export volume of Pakistan's textiles and clothing was 2 billion 164 million US dollars in the first two months of 2012-13 (7 and August 2012), a slight decrease of 1.5% compared with 2 billion 196 million US dollars in the same period of fiscal year 2011-12.

Among them, cotton, cotton yarn, non cotton yarn, garments, towels, tents and other textile exports increased, and exports of other textile products are now declining.

2012-13 in the first two months of the fiscal year, the total export volume of Pakistan was $3 billion 968 million, down 3.27% from the 4 billion 102 million US dollars in the same period in the 2011-12 fiscal year.

Pakistan cotton harvest has been collected 300 thousand tons of seed cotton ahead of schedule.

The proportion of Pakistan's fiscal revenue to GDP rose to 9.2% last year.

A report released by Pakistan's Federal Tax Commission (FBR) showed that in fiscal year 2011-12 (July 2011 to June 2012), the revenue reached 18830 billion rupees (1 US dollars or 95 Rupees), an increase of 20.9% over the same period last year.

In fiscal year 2011-12, Palestinian tax revenue accounted for 9.2% of gross domestic product (GDP), which was higher than the lowest value of 8.6% in fiscal 2010-11.

The Federal Tax Commission reported that the 2011-12 fiscal year was a year of challenge for Pakistan's economy. The energy shortage crisis and the low growth of manufacturing industry had a great impact on Pakistan's economy.

2012/13 financial year before February, Pakistan textile industry fell slightly by 1.5%

Pakistan reported recently that the export of Pakistan textile industry fell to US $2 billion 164 million in the fiscal year 2012/13, down 1.5% from the same period last fiscal year, but exports of Pakistan cotton yarn, cotton cloth, towels, tents and garments increased over the same period last year.

It is reported that the shortage of natural gas and energy has caused the continuous decline of Pakistan textile industry, and some textile enterprises have begun to pfer overseas.