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%.
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.
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.
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.
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.
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).
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.