Textile Briefs National

1. Textile exports during 2MFY20 increased 2.3% year on year against a growth of 3% in total exports during the period. The textile group accounted for 61% of total exports during the first two months of FY20 as opposed to 62% during the same period last year—not too major a difference. In fact, despite a loss in percentage shares, the balance of trade within the textile group actually improved by 10%.

2. Provincial Trade and Industry Minister, Mian Aslam Iqbal said that the textile sector was the backbone of the national economy and strengthening this sector could enhance the country’s export volume. Talking to All Pakistan Textile Exporters Association (APTEA) delegation headed by its President Khurram Mukhtar here, he added that the government was resolving the textile sector’s problems on priority basis.

3. According to the industry’s representative, textile millers are ready to annually invest $1 billion USD if the government would ensure ease of doing business to double exports in the next five years.

4. Dr. Firdous Ashiq Awan, Special Assistant to the Prime Minister on Information and Broadcasting said that the revival of the country’s major export-oriented textile sector was due to the efficient policies of the current government.

5. Pakistan and Egypt recently agreed to work out measures to focus on their untapped economic potential and promote bilateral trade at the first meeting of the Pakistan-Egypt Joint Working Group (JWG) on Trade held in Islamabad. Pakistan’s Commerce Ministry and the Egyptian Commercial Service signed a memorandum of understanding (MoU) to set up the JWG on trade.

6. As a result of the progressive policies and personal interest of the Prime Minister, especially by providing regionally competitive energy tariffs the textile industry has become viable after remaining in the red for 10 long years, said All Pakistan Textile Mills Association (APTMA).

7. Mian Naeem Ahmed, Chairman of Pakistan Hosiery Manufacturers and Exporters Association (PHMA), North Zone Newly selected Trade & investment Officers (TIOs) have been entrusted the achievable task to bridge widening import and export gap and in this connection they must take business community into confidence by exploiting their professional skills and expertise in line with the prevailing domestic, regional and global ground realities, said Mian Naeem Ahmed - Chairman of Pakistan Hosiery Manufacturers and Exporters Association (PHMA), North Zone.


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