Pakistan’s textile sector is bolstering the country’s weak economy as exports rise to record highs over South Asian rivals during the global Corona virus epidemic.
Abdul Razzaq Dawood, a trade adviser to Prime Minister Imran Khan, said textile exports in the 12 fiscal months ending in June were up 40 per cent year-on-year to 21 21 billion, according to Bloomberg. Are ready
Abdul Razzaq Dawood said that number would rise to US 26 26 billion in the next financial year, surpassing the country’s total exports of the previous year. According to Bloomberg, Provides everything from jeans to towels, is one of the few bright economic aspects of the country.
According to the report, textiles account for about 60% of Pakistan’s exports, and when the global epidemic broke out in 2020, the country allowed its factories to open before India and Bangladesh, allowing it to operate globally, including Target Corporation and Hans Brands Inc. Orders were taken from brands.
Abul Razzaq Dawood said that many orders were actually transferred from Bangladesh and India to Pakistan during the global epidemic, the other good thing that is happening is that now we are becoming competitive with Bangladesh, three or four years ago. Bangladesh was really beating us.
Abdul Razzaq Dawood said the government also plans to announce a proposal next month to provide incentives for exports to new markets such as Africa, South America and Central Asia.