With targeted reforms, Pakistan’s textile exports are likely to reach $100 billion by 2030, a level that could transform the country’s economic landscape, believe experts.
With its imports continuing to rise, Pakistan has emerged as the largest buyer of American cotton Ehsan-ul-Haq, Chairman, Pakistan Cotton Ginners Forum (PCGF), reveals, the country recently signed contracts for 72,000 cotton bales from the US in just one week. So far this year, Pakistan has imported over 3 million bales of American cotton—a significant increase driven by limited domestic cotton supply and the demand for high-quality fiber.
Cotton prices have also surged domestically, reaching Rs 18,200 per 40kg, a rise of Rs 200 from previous rates. The uptick in imports underscores Pakistan’s reliance on the US market to support its textile industry, a sector essential to the national economy.
In related developments, Kamran Arshad, Chairman. All Pakistan Textile Mills Association (APTMA), highlighted the importance of expanding cooperation in fiber recycling and renewable energy to support textile exports and create jobs. Speaking with representatives from Gherzi, a consulting firm, he emphasised the potential for a strategic partnership to fuel economic growth.
Looking to the future, Pakistan’s textile sector plans to establish 1,000 garment factories with a $7 billion investment. This expansion aims to boost exports to $50 billion, create employment for 700,000 people, and generate $20 million in annual garment production per plant.
Giuseppe Gherzi, Managing Partner, Gherzi, notes, garment production is likely to slowdown. He advised industry leaders to stay agile to maintain competitiveness amid 34 key trends reshaping the textile sector from production to consumer habits.
Playing a crucial role in Pakistan’s economy, the textile industry accounts for 60 per cent of its exports. Despite its importance, the industry faces significant challenges. Cotton yield has stagnated over the past three decades, with production stuck at 617 kg per hectare in 2020, while countries like China saw their yields rise by over 150 per cent to 2,027 kg per hectare during the same period. Rising energy costs and a lack of specialised leadership have further strained the industry.
