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Textile industry way behind its normal growth rate
08
Jan '08
In the first five months of the current fiscal year, export of most of the textile products failed to meet its set target and this explicitly reflects the situation of the crisis ridden industry of Pakistan.

Besides, the average share of textile products in the total export returns fell to 61 percent from the initial 65 percent maintained every year. Most importantly, the value added textile sector that gets the major chunk of the revenue, considerably failed to complete its target.

While garments export stood at $568 million against the target of $587 million during the July-November of the current fiscal year, knitwear export reached $882 million against target of $940 million and bed wear secured $786 million against target of $857 million.

On the other hand, export of cotton yarn stood at $579 million against $595 million target, cotton fabrics at $758 million against $880 million target.

Textile exports on the whole reached $4.487 billion against $4.510 billion obtained in the same period last year representing a trifling growth of 0.51 percent.

In spite of availing Rs30 billion as subsidy from the Government and such other concessions on bank loan rates, the textile industry refrain from showing any improvement in its export earnings.

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