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Textile industry cuts production in first half...

Textile industry cuts production in first half of 2017: Association

Jakarta (31/07) - Indonesian Textile Association chairman Ade Sudrajat has said that the textile industry had to cut production in the first half of 2017 because of weak consumer purchasing power. Many shopping centers reported weak sales during the recent Ramadhan and Idul Fitri holiday seasons, which usually see the year's peak sales for textile products.

“Several companies have been cutting their production since the first half,” he said, as quoted by kontan.id, adding that the textile industry's electricity usage had declined by 20 percent in the first half of the year.
Read also: Retailers express doubts about higher tax revenue target

As part of efficiency measures, textile companies extended their Idul Fitri holiday period for employees to 20 days from two weeks, Ade added. He also recorded many companies had also postponed their expansion plans, pending the availability of growth in overseas markets.

Separately, the iron and steel industry had withheld sales, pending the materialization of the government’s plan to cut the gas price to US$6 per million British thermal units (mmbtu), said Indonesian Iron and Steel Industry executive director Hidayat Tresiputro. Meanwhile, state electricity company PLN recorded 1.17 percent increase in its electricity sales in the first half of 2017.

Source: The Jakarta Post



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