PTC Economic Briefing
Vietnam urges better trade relations with Pakistan
While briefing the media at the Associated House in Lahore on Tuesday, Ambassador of the Socialist Republic of Vietnam, Nguyen Tien Phong, said that Vietnam wants to have good relations with Pakistan. He said that the main reasons for low bilateral trade between Vietnam and Pakistan is the lack of information about each other and low level of interaction, transportations, logistics and Hala.
Textile sector on verge of collapse: PAF chairman
A restriction on letters of credit (LCs), natural gas and electricity shortages, unavailability of raw materials and long delays in refunds have brought the textile sector to the verge of collapse,exporters on Tuesday regretted. Exports of the entire textile sector nosedived by 29 percent or $487 million on a yearly basis in Feb 2023, Muhammad Javed Bilwani said.
Textile millers oppose diversion of gas to other sectors, fear closure of units
All Pakistan Textile Mills Association (APTMA) has feared closure of export oriented units in case of curtailment of gas supply to the textile industry. Referring to media reports that thefederal government was considering allocation of 110 MMCFD gas to a sector, the association’s north zone chairman, Hamid Zaman said any endeavor to curtail supply of gas to export industry to divert to any other sector would tantamount to signing of death warrants of textile industry in the country, especially in Punjab.
Chemical used in textile industry could cause Parkinson’s disease
A chemical previously used in dry cleaning could cause Parkinson’s disease, according to new research. Seven high-profile individuals – including a former basketball star, a Navy captain and a late U.S. Senator – developed the disease after exposure, scientists said.
Stocks falter on economic uncertainty
Stock prices observed a mixed trend on Tuesday as investors remain cautious on account of further delays in the signing of the staff-level agreement between the government and the International Monetary Fund (IMF).
Census monitoring dashboards: PBS asks Nadra to give provinces access
The Pakistan Bureau of Statistics (PBS) has asked the National Database and Registration Authority (Nadra) to provide access to census monitoring dashboards to provincial governments to alleviate doubts.
Sindh governor inaugurates Tariq Sayeed Avenue
Governor Sindh Muhammad Kamran Khan Tessori accompanied by Administrator Karachi Dr.Saifur Rehman, President FPCCI Irfan Iqbal Sheikh, SVP Suleman Chawla, CACCI VP Khurram Tariq Sayeed, Akhtar Tessori, Special Assistants to CM Sindh Pir Noorullah Qureshi & Jam Kaim Ali unveiled “Tariq Sayeed Avenue” at an impressive ceremony held at FPCCI Office Karachi.
Schoeller Textil AG launches its latest sustainable textile collection
Swiss textile manufacturer Schoeller Textil AG announced the launch of its new recycled textile collection Re-Source.
Union Minister of Textiles will inaugurate CITI’s Global Textile Conclave
The Confederation of Indian Textile Industry (CITI) is organising the 3rd edition of the Global Textile Conclave (GTC) which is to be held on 15th, 16th, and 17th March 2023 in Jaipur.
Turkish Jan textile-clothing-footwear retail sales volume up 31.1% YoY
Turkiye’s retail sales volume with constant prices (2015=100) increased by 33.9 per cent year on year (YoY) in January this year. Non-food (except automotive fuel) sales increased by 42.4 percent YoY and sales volume of textiles, clothing and footwear increased by 31.1 per cent YoY during the month.
E-Textiles: The Future of This Multimillion-Dollar Industry
The promise of seamlessly incorporating electronics into our daily lives through e-textiles has also drawn much industry interest, including historic efforts from major players such as Adidas and Nike, together with millions of dollars in funding for startups in the space.