Textile exports in the current fiscal, have giving rise to hopes that the full-year proceeds will hit USD 13 billion after a gap of two years. Textile exports jumped 7.66 & YoY to USD 5.51 billion in first five months of current fiscal.
Upsurge in the value-added textiles has become the main driver of growth in the country’s overall exports. Reviewing the export performance of textile sector during the ending year, Chairman Pakistan Textile Exporters Association (PTEA) Shaiq Jawed, in a statement in the last week of December 2017, said that during fiscal year 2016-17, textile exports witnessed continuous negative growth. However, from beginning of current year, textile exports have taken an upsurge.
He further added that “As a result of government’s progressive move of cash incentives under the Prime Minister’s trade package, textile exports have taken the flight; however there are still challenges need to be addressed to further accelerate the growth.”