Pakistan textile sector exports register increase in FY 2019

Pakistan textile sector exports register increase in FY 2019
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*ISLAMABAD: **Pakistan textile sector exports register increase in FY 2019.*

*Exports of textile and clothing products recorded an increase of 2.17 per cent to $11.4 billion during the first ten months of the current fiscal year as compared to the same period in last year, the Pakistan Bureau of Statistics (PBS) reported on Monday.*

According to the report, the textile exports from the country during July-April 2018-19 were recorded at $11.419 billion against the export of $11.176 billion during July-April 2017-18.

The exports of textile commodities including apparel and clothing accessories grew from $2.24 billion last year to $2.50 billion during the current fiscal year and witnessed an increase of 11.87 per cent.

The report further said that exports of clothing accessories (knitted) increased by 2.22 per cent, from $2.06 billion to $2.11 billion, whereas the exports of other textile articles increased by 0.39 per cent, from $3.38 billion to $3.39 billion.

Similarly, the export of crocheted fabrics grew by 25.56pc, from $23.33 million to $29.29 million, while the exports of man-made filaments increased by 29.58 per cent, from $17.94 million last year to $23.25 million, read the statement.

Earlier on February 13, the textile industry had received Rs14 billion during the first seven months of the current fiscal year under the prime minister’s exports enhancement package.

“The sector would get an additional Rs115 billion through the package in the next five years,” Textile and Industry Secretary Iftikhar Babar had said. “For the promotion of textile sector and textile-led exports, the government has rationalized the price of energy, including electricity and gas, so as to help the industry grow.”

Economy