KARACHI: Pakistan witnessed a record increase in the export last year which played an important role in easing the pressure on foreign reserves.
According to a State bank report, the textile sector played a pivotal role in taking the export target to more than $25 billion. Textile sector recorded an increase of 21 percent. Last year textile exports accounted for $13 billion which has now reached $15.5 billion.
The report further adds that Style Textile was among 3 top exporters with $428 million, Interloop with $35 million and Artistic milliners $330 million. Here it is pertinent to mention that Artistic Milliners is the largest exporter of Denim Jeans from Pakistan.
According to experts, the conflict between US-China played an important role in promoting exports in the region. Mills in Bangladesh, Vietnam and Singapore are now working on full capacity to meet the demands.
However, clients are now looking forward to Pakistan, As such there is a need to formulate a business friendly policy for exporters with the consent of all the stakeholders to attract the potential importers.