Pakistan exports more textiles in December 2013
In December 2013 Pakistan’s textile exports increased by 22.4 %, despite of a suffering economy in the country
On the other hand, the constant energy supply the government guaranteed, especially in the Punjab, contributed a great deal to this uptrend. The current textile export rate is meeting the government’s targets. If the uninterrupted energy supply is continued, estimations are that Pakistan will be able to double its textile exports over a period of four years, however also the refunds from the government need to be improved to reach the set goals.
In the first half of 2013 (July – December) Pakistan’s textile and clothing exports improved by 8.36 % and reached a value of USD 6.94 billion (USD 6.4 billion). In terms of added value, particularly bedding was rising 21.72, knitwear 5.,35 %, readymade garments 7.9 %, cotton cloth 6.1 % and export of made ups 18.09 %. On the other hand the export of cotton yarn declined by 3.1 %. Total export proceeds grew 5.11 % to USD 12.63 billion (USD 12.02 billion).
The industry is expecting more growth in the second half of the fiscal year thanks to the duty waiver facility by the EU by GSP plus status, because it gives a push to the industry for further exports. This was exactly the point why EURATEX was objecting the GPS plus status for Pakistan, because the European manufacturers afraid of unfair competition, because the production standard in Pakistan differs a great deal from the EU rules and regulations European textile manufacturers are subjected.