With a view to enhancing the country’s exports, Pakistan will give the value-added textile sector top priority. Pakistan is also considering restoring the tax-free facility for five zero-rated sectors, including textiles, from the next fiscal year. In terms of quantity, exports of some textile products from Pakistan have increased. However, in value terms, these have showed negative growth due to the declining price trend globally.
Power tariffs have been cut to support the textile industry and further benefits are likely. Exporters have been urged to produce high value-added products for better growth of the country’s textile exports. In Pakistan’s textile sector, readymade garments are the only products whose exports are growing.
The country's cotton production declined last year due to climate changes. With steps now being taken toward enhancing cotton production, some positive results are expected in future. Efforts are being made to clear refund claims of the textile sector. Meanwhile Textile Asia is being held in Pakistan, March 9 to 11, 2016. This is meant to promote value-added machinery in the textile sector. Some 550 delegates from 27 countries are participating.
The exhibition brings textile and garment machinery, accessories, raw material supplies, chemicals and allied services under one roof.
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