According to All Pakistan Textile Mills Association (APTMA), the textile industry in Pakistan is all poised to double exports in the next four years. It has strong balance sheets and an equity fund of US $ 1 billion earned directly from the international market. These funds can be leveraged to invest at least $ 4 billion in the next year alone.
The industry has achieved a record increase of 26 percent growth in quantitative terms although this did not directly reflect in the dollar amounts due to a substantial worldwide decrease in textile prices. However if this 26 percent increase in quantity had not been achieved the exports would have been less than $ 8.5 billion, the international prices have now recovered.
As per records, profits of the companies were over 5 percent. The companies have posted a turnover of $ 16 billion out of which $ 13.3 billion was exported and $ 2.8 billion were sold in the domestic market. Industry has contributed to the exchequer through income tax of Rs. 40 billion as well as various other indirect taxes and levies of over Rs. 35 billion. The importance of the industry can be assessed from the fact that it also employs over 10 million workers with many more dependents.
