Pakistan among five countries replacing China as major imports of US cotton
Vietnam, Pakistan, Indonesia, Bangladesh, and Turkey are projected to account for 47 percent of world cotton imports by 2030 while China’s cotton imports would drop to 24 percent, reveals the latest report Department of Agriculture’s Economic Research Service. The report points out that China after joining WTO in 2001, became the world’s leading importer of …
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Pakistan likely to replace Spain as the 10th largest textile exporter
Despite consuming more fabric than most of the developed countries Pakistan is not among the 10 largest exporters of textile and clothing. But it may soon replace Spain with exports of $20.2 billion if it manages to maintain the growth in apparel exports. Pakistan’s exports last fiscal were a shade less than $20 billion but …
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Garments exports likely to fetch $50bn if govt continues support
ISLAMABAD: Garment sector has urged the government to continue with its various subsidies to support its plans to invest up to $7 billion for generating over 700,000 jobs and fetching $20 billion in exports, with a target to achieve $50 billion in exports by 2026. All Pakistan Textile Mills Association (APTMA) Patron-in-chief Dr Gohar Ejaz …
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Readymade garments exports witness 28.75 pc increase
Readymade garments exports during the twelve months of fiscal year of 2021-22 grew up by 28.75 percent as compared to the exports of the commodity during the corresponding period of last year. During the period from July-June 2021-22, Tobacco worth US $3,904,658 were exported as compared to the exports of US $ 3,032,812 during the …
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Textile exports up by 0.67pc in July
The exports of textile commodities increased by 0.67pc during the first month of the current fiscal year as compared to the corresponding month of last year. The textile exports were recorded at $1,481.021m in July 2022 against the exports of $1,471.185m in July 2021, showing growth of 0.67pc, according to the latest data released by …
Pakistan’s Denim Exports to US Soared 62% in First Six Months of 2021
Pakistan exported $38 million worth of denim clothing to the United States in July, 2021. This figure represents 140% growth over July, 2020. Mexico’s denim exports grew 58% while those of Bangladesh grew 24% in this period, according to the US Office of Textiles and Apparel. Among the top Asian suppliers, Pakistan’s exports to US …
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How the pandemic gave Pakistani denim a second life
Most clothes in Pakistan are tailor-made. It is a strange phenomena of the third-world that a majority of people that would be considered not well off wear bespoke clothing. The major reason for this is cheap labour. Skilled tailors are everywhere and they do not ask for the kind of money that their skilled …
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PAKISTAN RECORDS HIGHEST EVER TEXTILE EXPORTS IN JANUARY 2022
ISLAMABAD: Pakistan’s textile exports have reached new heights after they reached Rs1.55 billion in January 2022, the highest ever exports from the sector in a month, ARY NEWS reported. The details were shared by Senator Faisal Javed Khan, a close confidante of Prime Minister Imran Khan, from his Twitter handle. While sharing a graph of …
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PHMA welcomes new Textile & Apparel policy 2020-2025
LAHORE: Pakistan Hosiery Manufacturers and Exporters Association (PHMA) appreciating the approval of the new Textile & Apparel Policy 2020-25, has called for speedy implementation of it, as it is vital for new investment and marketing plan in the major export-oriented sector. PHMA Central Chairman Shahzad Azam Khan expressed the hope that the $42 billion export …
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Textile Sector leads Pakistan’s net zero bid
Net Zero Pakistan, the country’s drive towards net zero carbon emissions in industry – was intended to be cross-sector but so far 95 per cent of the signatories come from the textiles sector. Saleha Asif, CEO of the Pakistan Textile Council, argues that the textiles sector is a natural leader for the national initiative by …
Pakistan targets $20 billion textile exports
Pakistan’ s textile industry has set a target a increase textile exports to $20 billion in the next few years. Its textile exports rose by 37 per cent to $1.69 billion in February 2022, as against $1.23 billion in February 2021, reveals All Pakistan Textile Mills Association. The exports of textile commodities surged by 24.73 …
Cheap gas, electricity to be provided to textile industry
FAISALABAD: State Minister for Finance Rana Muhammad Afzal Khan on Monday said that gas prices would be further decreased for textile industry to reduce cost of production to maximum extent. Addressing a meeting at All Pakistan Textile Processing Mills Association (APTPMA) here, the state minister said the government had planned to provide electricity at rate …
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Pakistan plans Rs10b research fund to boost cotton output
ISLAMABAD: The Pakistan government is likely to announce a Rs10-billion research development fund in an effort to boost cotton production next season as the harvest remains unimpressive for the past few years. Talking to The Express Tribune, a senior government official disclosed that a high-level meeting on Wednesday tried to prepare a plan for enhancing …
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Pakistan exports to EU grow by almost 6%
Pakistan’s exports to the 28-member European Union (EU) posted a growth of nearly 6% in January-September 2017 on a year-on-year basis. This shows that the Generalised System of Preferences-Plus (GSP+) scheme largely failed to boost exports to the EU. Total export proceeds to these countries amounted to €5.07bn during the period under review against €4.79bn a …
Pakistan invites Japan to assist in promoting its textiles through PTA
ISLAMABAD: Minister of State for Finance, Rana Muhammad Afzal Khan invited Japan to assist Pakistan to promote its textile through Preferential Trade Agreements (PTA). During a meeting with Ambassador of Japan, Takashi Kurai, who called on him, Rana said Pakistan highly values its relationship with Japan, a press statement said. He hoped that the economic …
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No sales tax, customs duty on cotton imports in Pakistan
The Pakistani Government last week withdrew sales tax and customs duty on cotton imports with effect from January 8 to meet the shortfall of silver fibre, a key input in the country’s textile industry. The Economic Coordination Committee (ECC) of the cabinet approved a proposal regarding the same at a meeting headed by Prime Minister …
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ASEAN & South Asia Dyestuff for Textile Market to Reach $1,938.9 Million by 2023: P&S Market Research
According to the new study published by P&S Market Research, the ASEAN & South Asia dyestuff for textile market is forecasted to Reach $1,938.9 Million by 2023. The growth of the ASEAN and South Asia dyestuff for textile market is mainly driven by the tremendously high demand of dyestuff from the home textile and automotive …
PEW demands leather promotion for economic growth
The Pakistan Economy Watch (PEW) has asked the government of Pakistan for the development and promotion of the local leather industry for positive growth on the economy. A request has been made to the policymakers for more relaxations in the taxing system so that Pakistan leather industry could regain its position in the international market. …
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Cotton production increases 7 percent
LAHORE: At least 422,738 cotton bales of 160 kilograms each reached ginning factories during the last fortnight, industry data showed on Wednesday. Total cotton arrival at ginning stage has so far reached at 11.108 million bales, showing a seven percent increase in volume compared with the same period a year ago, according to a consolidated …
PYMA urges govt for elimination of tax on yarn import
The Pakistan Yarn Merchants Association (PYMA) has urged the Pakistan government for removal of the regulatory duty on the import of yarn. An appeal has been made to Dr Miftah Ismail, advisor to the Prime Minister on finance, revenue & economic affairs, for supply of affordable raw materials to the textile industry to increase the …
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