Pakistan textile sector exports potential estimated at $40 billion per annum: Report

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Pakistan textile sector exports potential estimated at $40 billion per annum: Report

*ISLAMABAD: *Prime Minister Imran Khan on Friday assured a delegation of textile and garment sector that the government would take all possible measures for promotion of this sector. The prime minister was talking to a delegation of leading businessmen of textile and garments sector which called on him at the PM Office.

He said that the promotion of garments and textile sector would not only provide huge employment opportunities but as a whole, it would help curtail the difference between imports and exports.

The prime minister was given a detailed briefing about the local capacity of textile and garments sector, hurdles in its progress and promotion and future policy in that regard.

The prime minister was told that the textile sector contributes 3.3% to the Gross Domestic Product (GDP) of Pakistan and there were numerous opportunities to increase its growth.

The meeting was told that the law and order situation, availability of financial help from banks, ease of doing business, unskilled labour and non-availability of long-term policy were the biggest hurdles in the past but now a considerable improvement had been witnessed in that regard.

It was also informed that a favourable environment and strategic measures could increase exports of this sector up to $40 billion by 2030.

The delegation, in that regard presented various suggestions to the prime minister. PM Imran assured the members of delegation that their suggestions would be considered.

Economy