Ali Ahsan, All Pakistan Textile Mills Association Chairman revealed that Textile exports of Pakistan will see the significant rise in the upcoming years.
Textile exports of Pakistan could be doubled in the next 5 years, revealed by Ali Ahsan, APTMA Chairman. He said that in next few months, positive results will be seemed visible.
Ali Ahsan said it is not possible to turn around exports overnight. In textile trade, he explains, it takes at least six months before the results start coming.
APTMA Chairman believes textile and clothing exports can easily double to $26bn in the next five years if the government continues to support the industry through a long-term policy. He said that it is crucial to remove upfront incidentals on the import of manmade fibres, which is short for industry consumption. This will enable the industry to diversify into products that are in high demand in foreign markets.
Ali Ahsan revealed that at least half of the textile capacity closed in the last five years will return to production.
On the other side, the price of different imported products in Pakistan is increased after the notable raise in the USD to PKR ratio in Pakistan