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In recent years, Pakistan has faced competition from regional players including Bangladesh, India and Vietnam. In the past decade, Pakistan's share in global textile market decreased to 1.7 percent from 2.2 percent, Bangladesh saw an increase from 1.9 to 3.3 percent and India from 3.4 to 4.7 percent. Barriers to growth include:
Sapphire Textile Mills Limited, also known as Sapphire Group (Urdu: سفائر), is a Pakistani vertically integrated textile manufacturer, producing cotton yarn, fabric, and finished garments. [2] It is based in Lahore, Pakistan. [3]
Sapphire Textile, also known as Sapphire Group (Urdu: سفائر), is a Pakistani vertically integrated textile manufacturer, producing cotton yarn, fabric, and finished garments. [2] It is based in Lahore, Pakistan. [3]
The group dates back to pre-Partition India. Founded by a Memon family, Gul Ahmed began trading in textiles in the early 20th century. [1]In 1953, the group decided to enter the field of manufacturing under the name Gul Ahmed Textile Mills Limited, and was incorporated as a privately limited company.
The cotton and textile industries play a dominant role in exports; [14] cotton accounts for 55 percent of the country's export earnings, and Pakistan has a 14% share of the world's cloth exports. [2] The European Union (EU) granted Generalized System of Preferences "Plus" status to Pakistan in 2013, which has promoted textile exports to the EU. [9]
Nishat Linen store at Dolmen Mall in Karachi. Nishat Linen was founded in 1989 by Naz Mansha, the wife of Pakistani businessman, Mian Muhammad Mansha. [13] [14] [15] Naaz Mansha is also known for running Inglot Cosmetics and Swarovski retail chains in Pakistan.
In 1994, Dewan Group undertook Pakistan's first Euro Convertible Bond issue for Unit II, as the sales tax on PTA and MEG rose to 15%. [1] Unit II commenced production in 1995. [1] In 1996, Dewan Salman Fibres relinquished a previously held sales tax concession. [1] In 1998, Dewan Group founded Dewan Farooque Motors. [1]
Cotton textile production is the single most important industry, accounting for about 19 percent of large-scale industrial employment. Cotton yarn, cotton cloth, made-up textiles, ready-made garments, and knitwear collectively accounted for nearly 60 percent of Pakistan's exports in 1999-2000.