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Textile exports to touch US$ 21 billion by FY 2021-22 end: Razak Dawood

ISLAMABAD, Pakistan: The Prime Minister’s Adviser on Commerce Abdul Razak Dawood has said that a phenomenal growth is currently being witnessed in the Textile Sector.

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While addressing a news conference in Islamabad on Wednesday, the adviser said that the textile exports are expected to touch US$ 21 billion by the end of the Fiscal Year 2021-22 as compared to the US$ 15 billion last year, which he added, is a 26% growth in the Textile Sector.

Abdul Razak Dawood said that the federal government has approved the Textile Policy to boost the capacity of textile industry with the aim to ensure sustainable growth in textile exports. He said that the policy was approved by the Federal Cabinet at its meeting held on February 15, 2022.

The adviser said that one of the main objectives of the policy is to give internationally competitive gas and electricity tariff to the textile industry.

Razak Dawood said that the government had reduced duties on the import of raw material in the budget and this tariff rationalization has been maintained in the Textile Policy.

Similarly, he said, we will continue to provide financing facility to the textile industry.

Razak Dawood also emphasized for greater value addition and diversification of products to tap the Country’s potential in the textiles.

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