Textile exports witness historic increase with SIFC support

Pakistan's textile exports have witnessed historic increase with the support of the Special Investment Facilitation Council. According to the Pakistan Bureau of Statistics, the textile exports have reached a 26-month high due to the facilitation of SIFC and government economic policies. The textile exports posted an increase by 13 percent to 1.64 billion dollars in August this year as compared to 1.46 billion dollars in August last year. The boost in Pakistan's textile exports is result of decline in demand for Chinese products due to political instability in Bangladesh and international sanctions. Under these circumstances, fifteen percent increase in exports of knitwear and bedwear and twenty eight year-on-year enhancement in exports of Pakistan's readymade garments has been recorded in August this year. In this context of current global situation, Pakistan has a golden opportunity to establish its foothold in the international market and increase its exports further by improving the quality of its pro ducts. The increase in exports is a testament to the government initiatives in industrial development of Pakistan besides the support of the Special Investment Facilitation Council. Source: Radio Pakistan