Pakistan's textile export goal is difficult to achieve

by:JIYALI     2021-08-19
According to Pakistan's 'Business Record' report, due to power shortages, rising production costs, political turmoil and fierce competition in the international market, Pakistan will be unable to achieve the US$12.2 billion textile export target this fiscal year. According to statistics, in the first 11 months of this fiscal year (July 2007 to May 2008), Pakistani textile exports totaled 9.59 billion U.S. dollars, a decrease of 2.5% compared with 9.83 billion U.S. dollars in the same period of the previous fiscal year. It is estimated that textile exports for the whole year will not exceed 10.5 billion U.S. dollars, which is a large gap between the fiscal year target of 12.2 billion U.S. dollars. According to reports, although the Pakistani government has issued 31 billion rupees (approximately US$450 million) of Ru0026D funding support to textile companies this fiscal year, textile exports are still performing poorly. The Pakistani government has decided to cancel the 3% to 6% Ru0026D funding support for the textile industry in the new fiscal year.
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