Textile Export of Pakistan Likely to Cross $16 Billion

In fiscal 2020-21, Pakistan's exports of textiles will probably rise by almost $16.5 billion to export of $27 billion over the same fiscal year.

The estimates for July and March show that the value-added market is growing in textile and fabric exports. In July and March, this year's exports volume hit $11.35 billion, down from $10.41 billion in 2014 to 9.06 percent over the same months last year.

In the next financial year, steady exports from the textile sector will begin to increase to up to $20 billion, bringing the textile export value to $30 milliards in the next financial year.

But, if the cost of output is to be equal to or lower than the regional competitive market participants, the government should enhance its efficiency.

The textile industry has used the incentives provided to help the government accomplish its ultimate objective of enhancing exports, creating jobs, and achieving economic prosperity.

In nine months of FY21, there has been an incredible increase in Pakistan's export sectors (including textiles). Export increases reflect Pakistan's resilience – exports have been made in an adverse foreign market where inputs are supplied at regionally competitive prices.

Our competitors are much smaller than Pakistan's industrial electricity tariff which makes us uncompetitive in growing market rivalry. Our goal to become a "powerhouse" for exports cannot be met before power tariffs are competitively and stably reviewed.

The Chief Patron APTMA, Gohar Ejaz, is calling on the Government to maintain regional competitive Gas/RLNG and Electricity tariffs of $6.5/mMBtu.

Regional competitive energy tariff policies proposed by the PIDE in Pakistan have played a crucial role in exports in the current year. It is important for increased exports, jobs and new investments to be maintained.

The industry is concerned that the energy industry cannot perform on a long-lasting, healthy, and sustainable basis, thus adversely affecting consumer feelings. Competition is the core concept for industrial sector growth and expansion.

Post a Comment

Please do not enter any spam link in the comment box.