China cuts subsidies to create good opportunities for Pakistan's textile industry

by:JIYALI     2021-08-11
Asif Ali Rashid, CEO of Almurtaza Machinery Company, said that the Chinese government has cut subsidies from 18% to 5%. Therefore, the Chinese textile industry is currently facing some major problems, which will help Pakistan to compete with its main regional competitors.   Almurtaza Machine Company will exhibit the latest embroidery machines at the 5th Asian Textile International Fair, which will be held at the Karachi Expo Center from April 4th to 7th. This year, the highlight of Almurtaza's exhibition is the second generation of Tajimas Sequin.   Now, each head of this embroidery machine can embroider four thorns of different sizes, shapes and colors at once. This invention will be operated on Tajima's new 28-head machine, which is designed and produced specifically for the South Asian market, which includes Pakistan, India, Sri Lanka and Bangladesh.   Asif Ali Rashid said that due to the appreciation of the renminbi and the reduction of government subsidies, the current production cost of the Chinese textile industry has increased by 30%, and the Pakistani textile industry has a great opportunity. Similarly, Indian textiles are also facing the problem of currency appreciation, which is also conducive to the competition between Pakistan and these two big countries. However, Bangladesh still has export advantages in the US and European markets.   He said that Pakistani companies always complain about the high production costs and the quota problems they face, but they never pay attention to the most important things. Due to different sales strategies, Pakistani companies earn 30% more profits from certain products of the same quality than their competitors.
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