Following the US decision to impose a 19% tariff on Pakistani goods, Pakistani textile exporters have expressed concerns, stating that this move will increase prices in the US, initially affecting exports. However, they believe business conditions will gradually improve.
Young textile exporter and Director of Lakhany Silk Mills, Farhan Lakhany, stated that the tariff has significantly impacted their sales in the US. He added that while exports to the United Arab Emirates have increased, the US was Pakistan’s most lucrative market and has now been impacted.
He explained that due to the tariffs, product prices have risen. According to Farhan Lakhany, although Pakistan faces lower tariffs compared to Bangladesh and India, higher production costs negate any advantage. Nevertheless, he emphasized the need to remain optimistic about the future.
Farhan Lakhany informed Sindh Chief Minister Syed Murad Ali Shah, during his visit to the Lakhany Silk Mills stall at the ongoing “My Karachi” exhibition at Karachi Expo Center that his company produces high-quality textile products which are appreciated globally.
Also present at the occasion were Rizwan Lakhany, KCCI President Javed Bilwani, Zubair Motiwala, and Idrees Memon.
Sindh Chief Minister Syed Murad Ali Shah expressed best wishes for Pakistan’s textile industry and exports, stating that the Sindh government has always prioritized resolving industrial issues.
He assured that, following the directives of Chairman Bilawal Bhutto Zardari, the provincial government would continue to facilitate export-oriented industries.
