Pakistan's textile industry starts new fiscal year with a bang as exports surge by 17%

• Pakistan records textile exports at $1.49bn in July.
• Last year, textile exports were recorded at $1.28bn.
• The value added sector that represents 78% of the textile export has also registered an unprecedented growth of more than 17% cumulatively.

In what is being hailed as a landmark achievement, Pakistan's textile exports have risen by an impressive 17% to $1.49bn in July, the first month of fiscal year 2021-22, as per a report in The News.

Last year, Pakistan's textile exports numbered to around $1.28bn in July 2020, as per the export data of textile products seen by The News.

The value added sector that represents 78% of the textile export has also registered an unprecedented growth of more than 17% cumulatively.

Shahid Sattar, Secretary General and Executive Director of All Pakistan Textile Association (APTMA), said a 17% growth in textile is a "landmark achievement".

He said 10 years back, Pakistan textile sector used to get a benefit of $2.50 by using cotton of one US dollar. Now, its capacity has increased to benefit up to $6.50 with the use of cotton valuing one dollar.

"The textile sector has substantially increased its capacity to produce the value added and finished products which will further increase by 20 percent by the end of current fiscal 2021-22", he said.