Prudent policies help Pakistan's textile sector pick up pace
Textile sector would assist in surpassing the overall export target of $25 billion by the end of current fiscal year
Representational image. PHOTO: REUTERS
ISLAMABAD:
Pakistan’s textile sector is now picking up due to prudent policies of the government, declared Adviser to Prime Minister on Commerce, Textile, and Investment Abdul Razak Dawood.
While briefing the Senate Standing Committee on Commerce and Textile, he hoped that the sector would assist in surpassing the overall export target of $25 billion by the end of current fiscal year. “In a recent meeting with stakeholders from textile sector, I assured them of government’s full support if the industry upgrades in all aspects,” he remarked.
The adviser expressed optimism that after China’s assurance to import textile products from Pakistan, the sector would witness a further boom. He stressed that China’s promise of importing $1 billion worth of goods was excluded from the free trade agreement and hence it would be exempted from duties.
Under the agreement, he continued, China would import 350,000 tons of cotton yarn, 250,000 tons of rice, and 350,000 tons of sugar.
Published in The Express Tribune, March 22nd, 2019.
Pakistan’s textile sector is now picking up due to prudent policies of the government, declared Adviser to Prime Minister on Commerce, Textile, and Investment Abdul Razak Dawood.
While briefing the Senate Standing Committee on Commerce and Textile, he hoped that the sector would assist in surpassing the overall export target of $25 billion by the end of current fiscal year. “In a recent meeting with stakeholders from textile sector, I assured them of government’s full support if the industry upgrades in all aspects,” he remarked.
The adviser expressed optimism that after China’s assurance to import textile products from Pakistan, the sector would witness a further boom. He stressed that China’s promise of importing $1 billion worth of goods was excluded from the free trade agreement and hence it would be exempted from duties.
Under the agreement, he continued, China would import 350,000 tons of cotton yarn, 250,000 tons of rice, and 350,000 tons of sugar.
Published in The Express Tribune, March 22nd, 2019.