Consequently, the downstream industry began to close down. It is therefore recommended that there must be a team that can perform the function of brokers. Market Glut The severe competition in the market has give rise to a phenomenon called Market Glut. The textile industry is havily export oriented. Marketing Targeting the unexplored export markets with the help of aggressive sales and marketing will pave the way for the textile growth. Registration of ownership rights 3.
The anxiety and pain suffered by the local industry intensified, as exports of value added textiles were declining at alarming rates Decrease in: Cloth 16%, knitwear 8% and garments 8%. Table 2: Distribution of Age Statistics Age N Valid 180 Missing 0 Age Frequency Percent Valid Percent Cumulative Percent Valid 15-25 133 73. It is pertinent to mention that the exports of textile products posted a growth of 12. China and India are much cheaper in labor, raw material and utilities as compared with Pakistan. How significant is the bargaining power of suppliers? During January 2010, 56 million kg was exported as appropriate measures to give effect to quota were not put in place in time. Pakistan is the 8th largest exporter of textile commodities in Asia and textile sector contributes 8. If this had not been the case the cash flow situation would have been positive.
Thetextile industry contributes approximately 9. Moreover, there is needto attend towards quality control as our yarn and apparel products from finer counts are highlyvulnerable to international competition. As the company is operated by a financially strong family it is recommended that equity base should be increased which in turn will lower the financial charges thus turning the company profitable keeping other factors at present level. This updating process takes 3-5 business days after order is placed. Moreover, we also investigate the short-run exchange rate dynamics by constructing an error-corrrection model to trace the j-curve. This practice, till the recent past, was solely done by the chairman. This function can help the company to develop and market a better product and penetrate into the market.
It looks at transporting out their concern in systematic manner. These standards lay greater emphasis on packaging, safety, and handling etc. Such arrangement even effects the performance of that person because in above case Mr Nadeem Naz is basically an accountant by profession and he has to look after the exports. Employee training There are no employee training schemes or workshops. The production of jute products was approximately 100,000 tons in 2009-10. The reason of this decline is Global recession, internal security, cost of Production, Energy crisis and declining the value of Pakistani currency.
Routine for building permits obtaining 3. Even in the traditional area f accounts the use of modern technologies is restricted. Its main features include one way window operation, constant supplies of gas and water, and uninterrupted power supply. P is notknown for growing cotton production. An important part of the report is Porter Five Forces analysis that surveys an industry through five major questions What composes a threat of substitute products and services? It provides employment to about 15 million people, 30% of the country work force of about 49million.
However there is not enough demand and as a result company needs to export its product. For this research we have selected some Textile Industries like Sapphire Industry, Mehmood textile Industry and Shah Kaam industry. In the past, policy making process neglected the importance of valueaddition in acquiring greater magnitude of exports and foreign exchange. The first two chapters of the report feature the country profile by giving general information on Pakistan and by thoroughly studying its economic state, including key macroeconomic indicators and their development trends. These power cuts have significantly impacted manufacturing industries in Pakistan.
It also provides 38% of the employment to the work force of Pakistan. As a consequence of load-shedding the textile production capacity of various sub-sectors has been reduced by up to 30 percent which, along with other consequences, has alsoreduced the export order. Their argument is that it will take away the share and would made the local textile industry most vulnerable to the threat of competition. The information analysis and consequences are presented in Chapter 4. This manager has been associated with the textile industry for about 50 years. This is a clear indication that these countries have reduced importing cotton related products from Pakistan and are fulfilling their needs from other sources. We have to seriously analyze its strengths and weakness so as to make the textile industry more competent among its rivals.
After the separation of East Pakistan, cotton export corporation of Pakistan was established which meant that most of the private sector work was taken by the state. Frequent changing of the government has adversely maligned the policies of the textile sector. General manager remains in contact with the brokers, negotiates the price, brokers the deal and makes sure that the cotton is tested before cotton is delivered. For Pakistan which was one of the leading producers of cotton in the world, the development of a Textile Industry making full use of its abundant resources of cotton has been a priority area towards industrialization. The other methods are knitting ,lace makingand felting.
Pakistan is the 8th largest exporter of textile commodities in. Theterm is also used for all types of knitted fabric, and its thickness and weight is defined in termsof denier or opacity. However, on the other hand, the industry is faced with rising charges of the energy sector, which increases the cost of production, making it difficult to compete with the other regional rivals. The Textile and Clothing Industry will continue to be an important engine for future growth of the economy; there is no alternative industry or service sector that has the potential to benefit the economy with foreign currency earnings and new job creation, especially if synergy is developed amongst different sub sectors and efforts are made to aggressively grow the Ready made Clothing Sector. Closure, low capacity utilization, losses are heated topics of the day.
The spinners on the other hand try to project the high estimate of the cotton crop to either pull the prices of the cotton down or to hinder the upward revision of the cotton prices. It also plays a major role in the economy of the country. Furthermore, safety and security remains a significant issue at textile, where there are limited checks on exhaust systems, light systems, and waste water disposal. They have very low number of business graduates looking after their functions. The company management must try to work out a mechanism to hold formal company meetings on the periodic basis to review and analyze the company as well as the market condition.