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Pakistan’s textile industry has become viable after a gap of 10 years

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Pakistan is drawing up a comprehensive textile policy with the aim is to increase the country’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.

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. The industry wants levies on cotton imports removed so that textile exports can go up. Exports fell one per cent during the last fiscal year as a strong negative price effect dominated the positive quantity effect. Exports, however, recovered 2.79 per cent in the July to August period of fiscal 2020. 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. 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

 

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