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Pakistan apparel exports up 17 per cent

Pakistan’s apparel exports have increased 17 per cent. The second phase of the free trade agreement with China will be operational from December 2019. This will relax tariffs for Pakistan’s garment sector, allowing it to enhance its export volumes. The textile sector will focus on value addition.

Pakistan is framing a long term and comprehensive textile policy. The aim is to increase Pakistan’s share in world garment exports. Its small and medium sector will be promoted and developed. A task force will focus on facilities and incentives to attract investors to this sector. The task force will also work on the development of genetically-modified cotton seeds and ensure consistency in business policies. The industry wants levies on cotton imports removed so that textile exports can go up. The country’s textile exports constitute more than 60 per cent of total exports. Knitwear exports comprise 14.4 per cent of total exports. Readymade garment exports have a share of 12.5 per cent in exports. Bedwear has a 10.7 per cent share in exports. A special energy package was extended early this year to the erstwhile zero-rated industry to provide it a competitive energy tariff to expand and increase exports. Pakistan’s textile industry has become viable after a gap of ten years, especially through the provision of regionally competitive energy tariffs.