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Industry News | Time: Jun 8 2022 9:04AM  Editor:Saint Danny
Pakistan' s textile sector to hit $20 billion exports this year
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Pakistan鈥檚 textile sector is expected to hit the $20 billion export mark by the end of this fiscal year. However, experts are urging the government to provide low cost and smooth supplies of power and natural gas to ensure that Karachi鈥攖he country鈥檚 financial hub鈥攄oes not experience the extinction of its industrial sector.

As per a Nation report, Pakistan鈥檚 textile sector accounts for about 60 per cent of overall exports from the country; yet, millers claim that they are receiving minimal facilitation from the government. The sector has grown by around $4.6 billion compared to June 2021, as per figures from the All Pakistan Textile Mills Association (APTMA).

Due to poor energy provision, textile mills in the country are operating at less than 75 per cent capacity. A further continuation of this trend may result in a loss of $250-400 million in exports each month, as per ATMA. The ban on energy supply is expected to increase gas prices further with the Oil and Gas Regulatory Authority (OGRA) announcing a 45 per cent hike in the tariff of natural gas for the next fiscal year starting from July 2022.

APTMA urged the government to prioritize sectors on the basis of performance鈥攅specially with regards to exports鈥攁nd facilitate key industries on the basis of economic rationale and nothing else.

Source: FW

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