Pakistan’s textile export volume surges by 17%
Islamabad: The Pakistan Bureau of Statistics (PBS) on Tuesday notified a 17% increase in the export levels of the textile and clothing sector for February – as compared with last year’s figures for the same month, according to news sources.
Pakistan seeks ITFC’s help to boost exports
As per the data, the proceeds from textile and clothing exports reached USD 1.27 billion in February, as compared with the sum of USD 1.09 billion gathered in the same month in 2019. The growth ratio experienced in the textile export sector is remarkable as for the last few years is limited to single-digit increase.
Exports grow, current account deficit falls in January
The authorities have associated this increase with excessive orders received last month. Moreover, the growth in the exports has also been encouraged by the reduced cost of raw materials and semi-finished products in the last budget, by exempting them from custom duties.
In a related development, the government has announced that it will refund the sales tax collected from the export-oriented sectors.