With the ongoing $3.5 billion expansion plan for the textile industry, Pakistan’s textile exports are likely to increase by $6bn and cross the $20bn target projected for the fiscal year 2021-22.
While sharing data on how Pakistan’s textile exports increased, APTMA praises the textile entrepreneurs for the huge achievement.
“Textile entrepreneurs have honored their commitment, with expansion plans well on track,” APTMA revealed in a tweet.
“Textile exports are set to increase by 6 billion dollars this year compared to last year,” APTMA further added.
“Since things are in the right directions at present, we will surely achieve our targets and even more this year subject to continuation of pro-exports’ policies,” the Aptma chairman believed.’
The association has termed textile growth in November and July to November, 2021 a good omen for the textile industry.
“Alhamdulillah Textile entrepreneurs have honoured their commitment, with expansion plans well on track Textile exports are set to increase by 6 billion dollars this year compared to last year, thereby equivalent to the 3 year IMF Program,” the association said in a tweet on Saturday.
According to data shared by Aptma, textile exports (silk, wool, cotton, vegetable textile fibres, man-made staple fibres, wadding, carpets, special woven fabrics, impregnated, coated textile fibres, knitted fabrics, apparel and other made-up textile articles etc) jumped to over $1.747bn (36pc) in November from over $1.286bn attained in the same period in 2020.
Likewise, exports jumped to over $7.834bn from July to November 2021, posting a rise of 29pc from over $6.052 recorded in the same period last year.