CHALLENGES AND OPPORTUNITIES OF TEXTILE INDUSTRY IN PAKISTAN

Abstract

Statement of the problem: The objective of this report is to pinpoint problems and ills faced by Pakistan textile industry. This report mainly discusses about the challenges during global financial crises. Also, strategies are discussed which should be adopted for the revival of textile industry. Research Method:To analyze the causes and issues in textile industry, facts and figures were collected from economic survey, statistic division of Pakistan. Findings:During analysis I found that the major threat to Pakistan’s textile sector is to maintain its competitiveness its competitors by keeping its target market as well as improve its share in whole world export. ConclusiomStudy suggests that some issues are directly linked with textile industry such as energy crisis and some are linked indirectly. To overcome these challenges, their strategic approach should be Collaboration in product development and strategic alliance with competitors. Recommendation:After drawing conclusion, strategies are provided for the advancement of Textile industry in Pakistan and to cope up with problems faced.