The Ministry of Textile Industry of Pakistan has claimed that the decrease in the textile exports will be arrested because of the 15billion released under the Prime Minister incentive package for textile exporters. According to the data given by the Ministry of Textile, the textile and clothing exports increased by 6.2% to 1.964%billion in the month of March 2017, as compared to what 995.33 million dollars in the month of February, same year. However, textile exports during July-April 2017 were $10.297 billion against $10.392 billion in July-April 2015-16, registering negative 1% growth.
Moreover, the Textile exports were -7.34 percent during the first ten months of 2015-16. The Ministry is working to promote a positive change in the industry. The official representative of the Ministry said that a request has been sent to Finance Ministry for the release of more funds to accommodate exporters” claims.
The country imported 82,000 bales of cotton in December 2016-17 compared to 475,000 bales in December 2015-16 (-82 %), 225,000 bales in January 2016-17 compared to 335,276 bales in January 2015-16 (-36 %), 421,388 bales in February 2016-17 against 326,470 bales in February 2015-16 (29 %), 530,882 bales in March 2016-17 against 257,252 bales in March 2015-16 (106 %) and 481,300 bales in April 2016-17 against 251,541 bales in April 2015-16 (91 %). He further said the machinery imported after the announcement of the PM package is also an indicator that the exporters had enough concession in tax to take such steps.
