FY 2022
ISLAMABAD: Patron in Chief of the All Pakistan Textile Mills Association (APTMA) Dr Gohar Ejaz on Saturday indicated that the textile industry is expecting over 20% growth in exports this fiscal year, cautiously adding that this is possible if the government continues with the policy of ‘Regionally Competitive Energy Tariffs’. APTMA, a trade organisation representing the largest industrial sector of Pakistan, said that the textile industry posted record export growth in FY22 with its expansion and investment plans under the State Bank of Pakistan’s (SBP) Long Term Financing Facility (LTFF) and Temporary Economic Refinance Facility (TERF). “In addition, the country’s textile industry plans to import 6 million bales of cotton this year from the US and Brazil,” said Gohar. The textile sector makes up a lion’s share of Pakistani exports. In the first eleven months of FY22, the exports of textile commodities surged to $17.62 billion against exports of $13.74 billion in the same period of the previous year, according to latest data published by the Pakistan Bureau of Statistics (PBS) on Friday. Earlier this month, the textile industry sought the prime minister’s help for the restoration of gas to the sector, stressing that a loss of almost $1 billion in exports would take place due to energy suspension and long holidays. Our Correspondent
