Textile exports surge by 17pc in first month of current fiscal

ISLAMABAD: In a welcoming development, Pakistan’s textile exports surged by 17 percent to $1.49 billion in July, the first month of current fiscal 2021-22, as compared to $1.28 billion in the same month of last fiscal, unfolds the export data of textile products available with The News.

The value added sector that represents 78 percent of the textile export has also registered an unprecedented growth of more than 17 percent cumulatively.

“This is a landmark achievement with 17 percent increase in export of textile products”, said Shahid Sattar, Secretary General and Executive Director of All Pakistan Textile Association (APTMA) when contacted by The News.

He said 10 years back, Pakistan textile sector used to get a benefit of $2.50 by using cotton of one US dollar. Now its capacity has increased to benefit up to $6.50 with the use of cotton valuing one dollar.

"The textile sector has substantially increased its capacity to produce the value added and finished products which will further increase by 20 percent by the end of current fiscal 2021-22", he said.