The News International, Pakistan
Friday, January 23, 2014
By our correspondent
KARACHI: Leather garment exports fell by 47 per cent during December 2014 compared to the same period of 2014, marking one of the largest falls in the exports of value added products.
Exports of leather garments were increasing till October last year, but as off November, witnessed a downtrend due to global recession, said Fawad Ijaz Khan, Chairman Pakistan Leather Garment Manufacturers and Exporters Association (PLGMEA), in a statement on Thursday.
Many leather garment factories were facing closure, which would cause a loss of thousands of jobs. Foreign buyers returned to China and India, casting a negative impact on exports from Pakistan, he added.
Since December 2014, the Chinese and Indian governments had been offering incentives to their exporters to lower their costs in the present crisis and attract foreign buyers. He urged the government to announce a package for the revival of the leather garment industry.
