Pakistan All Set To Cross USD 15 billion Mark In Textile Exports

Market News

Pakistan All Set To Cross USD 15 billion Mark In Textile Exports

Pakistani’s textile exports will touch the USD 15 billion mark by the end of the current financial year said Syed Ali Ahsan Chairman All Pakistan Textile Mills Association (APTMA). He gave credit to the export enablers that included the Pakistan government. Ahsan while addressing a press conference at the APTMA office, expressed satisfaction and sounded appreciation over the government recognizing the importance of exporting industry and providing regionally competitive energy to 5 zero rated sectors. In his press statement he further said, “The government should ensure supply of energy on regionally competitive price in order to ensure stability.” Gohar Ejaz, partner in chief of APTMA stressed that the availability of energy at regionally competitive price has boosted textile exports by 8.5% in the month of January 2019 on a y-o-y comparison in the corresponding period. “The textile industry exports is likely to cross $15 billion mark in case it continues to grow by 10 percent on an average for the remaining period of current fiscal. It would likely be a record achievement of textile exports in such a short span of time. The exports of USD 3.5 billion yarn and fabric annually may boost textile exports to USD 14 billion in case closed capacity worth USD 3 billion exports is revived through the enablers ensured by the government,” pointed out Ejaz. He asked for a task force on cotton production to achieve the 15 million bales mark that will ensure the implementation of the vertical and horizontal growth of cotton and acquisition of high yield cotton technology, broad basing of sustainable cotton production.