Pakistan is committed to reducing the cost of doing business for export-oriented sectors including textiles and reducing the current account deficit.

Value-added products are being promoted. Other steps taken include the supply of energy at competitive tariffs, monetary disbursements to mitigate prevailing liquidity issues due to severe economic challenges, duty-free import of cotton and reduction of custom duties on import of dyes and chemicals, and duty-free import of textiles and apparel machinery.

Pakistan’s textile industry is faced with countless opportunities to capture a greater market share, but state reforms in energy, technological upgradation, diversification and value addition will be necessary in order to enhance the potential of the sector and facilitate economic growth.

Pakistan’s exporters handled disruptions such as the Covid pandemic very well especially in comparison to regional competitor Bangladesh.To maintain the current momentum, the textile sector has committed to unprecedented value addition by committing to setting up 1000 garment plants.

A new policy on textiles and apparel would address matters including value addition, product diversification, skill development, productivity and ease of doing business. Investment will be invited in the textiles and apparel sector to enhance manufacturing capacities.

In the global textile market Pakistan has less than a two per cent share, which will be enhanced with practical steps.