Islamabad: Pakistan’s textile exports have surged to a record PKR1.64 billion in August, marking a significant 13 percent increase from the PKR1.46 billion recorded in the same month last year, thanks to the efforts of the Special Investment Facilitation Council (SIFC) and strategic government economic policies.
According to Ministry of Information and Broadcasting, the rise in textile exports is credited to a 26-month high facilitated by the SIFC. The export growth also reflects a decrease in demand for Chinese products, political unrest in Bangladesh, and international sanctions that have shifted market dynamics in Pakistan’s favor.
The data from the Pakistan Bureau of Statistics highlighted notable growth in specific sectors: exports of knitwear and bedwear rose by 15 percent, while readymade garments saw a significant 28 percent increase compared to the previous year. This performance is seen as a direct result of the government’s focus on industrial development and quality improvement in the textile sector.
In light of the current global economic situation, industry experts believe that Pakistan is well-positioned to further cement its standing in the international market. The government and the SIFC’s ongoing initiatives are expected to play a crucial role in this strategic economic expansion.