Tough times for Pakistani leather sector
Full-year export figures for Pakistan’s leather industry show total revenue of $850 million, down by 8% year on year. Pakistan’s financial year runs from July to June.
Exports of finished leather brought in $137.6 million, a decline of 18%. Revenues from finished leather products, including garments, reached $545 million, a fall of 5.5%.
For exports of footwear, of all kinds, revenues for the recently closed financial year were $162 million, down by 9.2%.
Chairman of the Pakistan Tanners’ Association (PTA), Muhammad Mehr Ali, said member companies were struggling because of a fall in demand for finished leather and because of financial restrictions.
He said tanners in Pakistan are due to receive around $9 million in tax rebates but that the government is withholding the money. He said some manufacturers had stopped production and that others were considering following suit.
