During the July-January period of 2016-17 Pakistan’s exports of bed wear rose 5.07 per cent and exports of readymade garments rose 4.17 per cent. Knitwear exports remained almost flat during this period. Machinery imports soared 42.36 per cent. Power generation machinery imports saw a 90 per cent increase over the previous year. Imports of electric machinery and appliances rose 16.14 per cent. In January, machinery imports increased 50.17 per cent over the same month a year ago and rose 14.24 per cent over December 2016.
In July-January, imports continued to surge and were up 13.6 per cent. Import bill of machinery was the heaviest, accounting for almost a quarter of gross imports during the seven months. Imports of fertiliser, insecticides and other agricultural inputs remained flat during the seven-month period.
The textile sector’s export revenue was down 1.54 per cent over the previous fiscal year. In January, textile exports increased 2.73 per cent over the preceding month but decreased 1.3 per cent over the same month a year earlier. The textile industry accounts for more than half of the annual exports from Pakistan. An incentive package has been prepared for export-oriented sectors. The package comprises withdrawal and concessions on customs duty and sales tax on import of cotton and machinery.