Egypt: Difficulties In The Textile Industry

(textile factory)

The trouble of the Department has become a bitter theme of the new Egyptian regime.

The Egyptian government's textile sector is facing problems: debts owed to banks and various government agencies, ageing equipment, and impossible production of enough output to cover boss costs and material input.

Egypt

Giles, the leader of the holding company, said that the textile companies had suffered historic debts and that these debts hampered their modern equipment since 80s.

Giles stressed that those who believe that the leadership of the company should be responsible for this debt is wrong, and everyone should be responsible for it.

Textile companies not only seek to meet raw materials and labor costs, but also end the era of selling finished products at the prices of class materials.

At present, the textile sector will soon bring about changes in temperature, especially small businesses. They are eager to develop a comprehensive prospect and bring them proper profits.

In Egypt, there are only three open sectors.

But they can't compete until they can provide high quality products.

It is impossible for them to achieve this goal under the present old equipment.

The price of a canthal cotton is 725 Egyptian pounds, while the cost of one ton of wool is 135000 Egyptian pounds.

Wool is imported by STIA company, because the company has import license.

Giles said that the textile sector needs not only wool but also acrylic and polyester.

The factory often shut down for several days before the raw materials were obtained.

90% of the textile companies in the public sector enter the army.

Giles added that the company provided yarn to the Egyptian Hull million company to exchange cloth, so as not to pay the fine in order to fulfill the military fashion demand in time.

At present, the contract between the company and the military is about 3 million Egyptian pounds.