Wednesday, April 24, 2024
HomeNews & ViewsBusiness FocusPakistan is framing a long term and comprehensive textile policy

Pakistan is framing a long term and comprehensive textile policy

Pakistan textile industry is in growing stage. Now they are aiming to increase Pakistan’s share in world garment exports. Its small and medium sector will be promoted and developed. A task force will focus on facilities and incentives to attract investors to this sector. The task force will also work on the development of genetically-modified cotton seeds and ensure consistency in business policies. The industry wants levies on cotton imports removed so that textile exports can go up. The country’s textile exports constitute more than 60 per cent of total exports. Knitwear exports comprise 14.4 per cent of total exports. Readymade garment exports have a share of 12.5 per cent in exports. Bedwear has a 10.7 per cent share in exports. A special energy package was extended early this year to the erstwhile zero-rated industry to provide it a competitive energy tariff to expand and increase exports. Previous textile policies have not been much of a success story. The policy for 2014-19 failed to achieve its targets including doubling value addition, increasing textile exports as well as the creation of three million jobs in five years. Pakistan’s textile industry has become viable after a gap of 10 years, especially through the provision of regionally competitive energy tariffs. The industry witnessed a record 26 per cent growth in quantitative terms.



Please enter your comment!
Please enter your name here

- Exhibition - spot_img
- Industry Associate - spot_img

Upcoming Events

Simillar News

Recent Random

Expanding Export Horizons: Diversifying Beyond Textiles, Garments to Multi-Purpose Products

Our buying house and trading house owners should focus on various products for export markets beyond textiles and garments, emphasizing multi-purpose export products. The new...

ITCPE 2024: Digital Textile Ink Exhibitors Preview

Digital Textile Ink is a crucial material in digital printing technology for textiles. Its quality directly impacts printing results and product quality. As digital...

China mulls bonded warehouses in Bangladesh, BKMEA seeks tech collaboration

Mike Gee, president of the Textile and Garment branch, Chinese Enterprises Association in Bangladesh, and the head of the Chinese delegation, said the relationship...