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Pakistan Textile Exporters Association hails increase in exports this fiscal

Pakistan Textile Exporters Association (PTEA) has hailed the increase in country’s exports of 15.28 per cent year-on-year to $21.34 billion in first 11 months of current fiscal year. PTEA has stressed for fast track implementation of long term growth-led export policies in true spirit to get sustainable growth and shrink the huge trade deficit.

PTEA chairman Mian Shaiq Jawed has praised the upsurge in country’s exports. He says value-added textiles are the main driver of growth in the country’s exports which has risen 8.13 per cent to $11.13 billion in July-April period of FY18. In the first 11 months of current fiscal year, total exports crossed $21 billion and if the trend continues, they would cross $23 billion, which will be the highest level since FY14.

He further said textile exports have taken off as a result of cash incentives under the Prime Minister’s export package. He asked for immediate payment of cash incentives under PM export package to further accelerate the growth in value added textile exports.