ISLAMABAD
\nFormer President of the Islamabad Chamber of Commerce and Industry (ICCI), Dr. Shahid Rasheed Butt, said on Sunday that the performance of the export sector is disappointing.
\nExporters take many benefits from the government, but their performance remains deplorable due to too much focus on profits, he said. The whole focus of the export sector is on profit and packages, while there is no interest in increasing production and quality, competitiveness, innovation, or research and development, he added.
\nShahid Rasheed Butt said in a statement today that Pakistan\u2019s cotton production falls short of demand, costing the country billions of dollars in annual import losses. On the other hand, he said, the world is reducing cotton production to provide food for the expanding population.
\nHe noted that Pakistan\u2019s powerful import lobby has been influencing important policies in its favor for decades, which has shaken the foundations of the economy.
\nOn the other hand, the export lobby is addicted to bailout packages, tax breaks, and devaluation of the rupee, which affects 250 million people.
\nCurrently, Pakistani exports exceed Bangladesh\u2019s volume, but the superior quality of their export earnings makes them significantly higher than Pakistan\u2019s. Shahid Rashid Butt further stated that a team from National Textile University, backed by a Hyderabad-based investor, has successfully extracted fiber from banana peel and bark and made it usable for the textile industry, which has opened up new possibilities for Pakistan\u2019s troubled textile sector.
\nThis development has the potential to revolutionize the textile sector and bolster the struggling economy, as it transforms the fruit waste into raw materials for the production of textile fibers. Consumers\u2019 growing awareness of ethical fashion has led to an ever-increasing demand for the use of natural fibers in not just garments but the whole textile industry, he said.
\nHe added that this invention will not only save billions of dollars in foreign exchange but also reduce environmental pollution by extracting one million tons of fiber from banana stems and turning them into yarn. Farmers\u2019 lives will change as a result of using 90% of the leftover banana crop waste to produce fertilizer and electricity.
\nThe team is also targeting other countries known for banana production, with Kenya and Uganda being the first choice. In addition to bananas, the team extracts yarn from corn husks, other fruits, and vegetable waste. Many international brands use this yarn, and Pakistani exporters are also interested.
\nNatural fiber from banana trees consists of cellulose, lignin, and hemicelluloses. The appearance of banana fibers is similar to bamboo and ramie fibers, but they are known for their superior smoothness. However, as there is a growing demand for eco-friendly textile fabrics, the significance of banana fibers is increasing.
\nCurrently, he said, people use banana fiber to make garments, neckties, cushion covers, tablecloths, curtains, and other items. The physical properties of banana fibers, such as strong moisture absorption, natural shine, high strength, and minimal elongation, make them ideal for apparel production.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Former President of the Islamabad Chamber of Commerce and Industry (ICCI), Dr. Shahid Rasheed Butt, said on Sunday that the performance of the export sector is disappointing. Exporters take many benefits from the government, but their performance remains deplorable due to too much focus on profits, he said. The whole focus of the export […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-432913","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n