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New package for Pak textile sector

Oct 06, 2017
New package for Pak textile sector

Pakistan’s Commerce and Textile Minister Pervaiz has said the Government will announce a new incentives package to boost tumbling textile exports. The Government is reviewing the Prime Minister’s package for enhancing exports, which is yet to offer positive yields, he said inaugurating an office of All Pakistan Textile Mills Association (APTMA) in Islamabad.

The Minister said efforts are under way to enhance cotton production by focusing on cotton research in collaboration with APTMA. Textile exports for August 2017 recorded a growth of 9 per cent to $1.17 billion compared to $1.08 billion in the same period of last year, according to Pakistan Bureau of Statistics data. On a cumulative basis, textile exports expanded 6 per cent to reach $2.18 billion in two months of the ongoing fiscal. During August, basic textiles exports registered a drop of 9 per cent year on year to $302 million.