Pakistan is trying to increase its textile exports. Presently, Pakistan’s share is 1.6 per cent in the world textile trade. Efforts are on to increase this to three per cent by 2025. The potential of home-grown cotton will be fully utilized augmented by manmade fiber/filament to boost value-added exports and become a major player in the global textile supply chain. Among the objectives are restoring the profitability of cotton farmers by increasing cotton yields, improving the quality of cotton and decreasing the cost of production for farmers, strengthening the manmade fiber/filament sector to make this chain internationally competitive and export oriented, long-term financing facility for the entire textile value chain, revival of impaired textile capacity and establishment of textile clusters and export processing zones with plug and play facilities.
An ambitious strategy has been formulated to move from low value added semi-processed textile exports to high value-added garments and fashion articles. To improve job creation, productivity and exports, the investment-to-GDP ratio will be raised to around 20 per cent.
Pakistan was a leading player in the textile trade but over the last decade its textile sector growth has remained dismal owing to several policy limitations and the lack of an enabling environment necessary for industries to flourish.