Pakistan’s textile exports fell 16 percent in October 2022. Resultantly, the growth rate of textile export has also declined, which had witnessed a 26 percent increase during last fiscal year.

With an uninterrupted supply of energy and gas, exports would have grown by more than 26 percent, as more than 40 allied industries of textiles had also excelled in growth and performance during last year.What’s needed now is regionally competitive energy tariffs for both power and gas, release of sales tax refunds within 72 hours and uninterrupted supply of power and gas. Unhindered imports of raw materials and accessories, machinery and spare parts are expected to help in a big way.

Another major factor forthe decline in textile export is discontinuation of DLTL. Continuation of DLTL and swift refunds of sales tax against exporters’ claims hold the key to enable exporters to achieve their export target without facing any liquidity problems and pressure.

As of now Pakistan’s value-added textile exports face further declines in the coming months. This is feared to ultimately have a negative impact on the economy, sustainability, and development of Pakistan. Exporters have appealed for immediate remedial measures to save the backbone of the nation’s economy.