Page 4 - September-October-2020

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Increase in Pakistan textile exports;
‘Make in Pakistan’ initiative to

strengthen exports

Editor-in-Chief Figures reveal a sharp contraction Abdul Razak Dawood, Advisor to
Yousaf Fareed
in exports since March 2020. The the Prime Minister, on Commerce
exports in April 2020 decreased to and Investment commented that
Editor $960 million, a 54pc reduction government is pursuing the policy
Hassan Saeed
compared to April 2019. Exports of of ‘Make in Pakistan’ diligently and
knitwear, bedwear and ready-made have rapid industrialization for
Sub-Editor garments were also adversely
Mehwish Sheikh impacted in March 2020. But substituting the imports and
Noor Amjad exports of surgical goods and enhancing our exports. This was
Dr Shagufta Riaz instruments and certain leather remarked by him in a meeting with
Dr Sharjeel Abid a delegation of Chambers of
products (such as gloves) reported
positive growth rates in March Commerce and Industry at Ministry
Advisory Board: 2020, both month-on-month as of Commerce. the Advisor told the
Dr. Tanveer Hussain well as year-on-year. delegation that the Government is
Dr. Muhammad Tausif following a three year plan,
During these times, the United gradually removing duties and
Marketing Manager States of America (USA) remained tariffs, particularly on raw materials
Abdul Haseeb
the top export destinations of the for the industry.
Pakistani products during the
Layouts eleven months of current financial while, Bangladesh garment factory
Faizan Khan
year (2019-20), followed by China owners on an average laid off 20%
and United Kingdom (UK). The of their workers in the wake of the
Marketing Incharge total exports to the USA during first wave of the coronavirus
Memoona Karim July-May (2019-20) were recorded pandemic. Bangladesh is the
Tanveer Ahmed
at US $ 3588.819 million against world's second-largest apparel
the exports of US $ 3727.390 producer after China, but its
Address million during July-May (2018-19), industry leaders say international
C-302, City Towers showing negative growth of 3.71 retailers are either refraining from
Main Boulevard, Gulberg II percent during the period under placing orders, delaying buying
Lahore-Pakistan
review, according to State Bank of decisions or demanding steep
Pakistan (SBP). price cuts.
Phone: + 92 42 35 788 700
Fax: + 92 42 35 788 700
Pakistani exporters must develop In the financial year that ended in
strategies to mitigate the adverse June, Bangladesh's garment
Email: info@textalks.com impact from the crisis by targeting exports totaled $27.94 billion (21.6
Skype: textalks
a range of products that may billion pounds), down 18% from
reveal potential but are within the the previous year. Nearly half of
www.textalks.com
range of their own core factories producing knitwear
competencies. For instance, textile products like t-shirts and sweaters
exporters successfully shifting are finding it difficult to remain
towards production of personal open. Low wages have helped
protection equipment and face Bangladesh build its garment
masks may report a spike in their industry, with some 4,000 factories
export activity. employing 4 million workers.

September/October 2020