Advisor to PM Abdul Razak Dawood has said the present government
is working on a textile policy to achieve growth and business
targets. The textile policy would be announced in the next some
weeks. The focus has been given to agriculture and industrial
sectors through CPEC projects.
According to the business community, the textile sector is
facing a shortage of raw materials as import consignments are
stuck at Chinese ports and prices of locally available goods
have shot up. Pakistan’s textile sector relies on imports to
meet around 70 percent of its input needs.
PRGMEA North Zone, Chairman Sohail Afzal has said that the
value-added garments sector of the textile industry showed 3.03
percent growth in 2018-19 despite various challenges. He added
that exporters should focus on market research and market their
The Pakistani government recently decided to give autonomy to
the Pakistan Central Cotton Committee (PCCC) by restructuring it
through effective private-sector representation. The target is
to strengthen research in the cotton sector.
APTMA Punjab Chairman Adil Bashir has urged PM Imran Khan and
relevant authorities to review the decision of
add-ons/surcharges increasing power tariff to 70 percent
retrospectively for the export-oriented industry. He said that
the decision could lead to the closure of mills that would
render hundreds and thousands of workers jobless.
Minister of State for Parliamentary Affairs Ali Muhammad Khan
informed the National Assembly that Prime Minister Emergency
Programme is being launched to enhance cotton production in the
country. In which new seed varieties will be provided to the
farmers to enhance the productivity of the cotton crop. He said
incentives will also be given to the farmers to woo them for
Prime Minister Imran Khan has said the cotton crop has played an
important role in the national economy and has given directives
for amending the Seed Act and reconstituting the cotton
Pakistan’s textile exports have recorded growth of 3.94% in the
first six months (July to December) of the on-going financial
year (FY2019-20) mainly due to cash support to various sectors
and currency depreciation.
The second phase of the China-Pakistan Free Trade Agreement (CPFTA)
became fully operational from January 1, 2020. The free trade
agreement will eliminate tariffs on hundreds of products, a move
that is expected to provide a billion-dollar boost to bilateral
trade. It will waive or ease 75% of tariffs imposed by each
country for over 15 years.