There is an optimistic increase of straight five percent in Pakistan’s textile export. Good News about Pakistan Exports. This increase was measured in last months.
Stakeholders are now relying on Chinese tariff concessions and ease of doing business to unlock the potential foreign exchange revenue from key sector. According to the data released by Pakistan Bureau of Statistics (PBS), textile exports stood at $5.5 billion during the same period last year. In November, the textile exports clocked in at $1.17 billion, an increase of 7.03% year-on-year, but a decrease of 3.1% month-on-month.
The Karachi-based brokerage JS Global Capital said that this growth in textile exports remained stationary in the previous few months, and “it remains to be seen whether the phase-II of China-Pakistan free trade agreement (CPFTA II) can provide some fresh impetus to the sector”.
As per Brokerage Pearl Securities, CPFTA II can speed up the exports due to its concessionary tariff lines and greater market access.
A recovery of $5.75 billion has been posted by Textile exports in the first five month. Great For Pakistan Exports.
Raw cotton Pakistan exports stood at $2.06 million, up 24.91% on a yearly basis, while the cotton yarn exports surged 23.9% in November. From July to November, value-added textile sector increased in exports. Ready made garments export increased by 13.2%. The knitwear exports increased by 8.7% and exports of bed wear by 4.7%.
“Electricity should be supplied at a flat rate round the clock to the industrial sector in winter season to meet the government’s aims to increase production, uplift exports and create more jobs,” Jawed Bilwani, chief coordinator of Pakistan Hosiery Manufacturers and Exporters Association said.
As we can see it as a positive sign towards progress and it can lead towards more positive attitude also. However, experts have their opinions on it and the are clearly describing all things in media now a days.
What is your point of view about this? are you agree or disagree? or you have a completely different thoughts about it. Please share it with us in comment box.