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Despite receiving record loans, Pak textile exports slump
17
Mar '17
Despite receiving record amount of loans in fiscal 2016-17, exports from the Pakistani textile and apparel sector have dropped, amid mounting challenges from Asian competitors. Lending to the industry amounted to a record Rs 90 billion in fiscal 2016-17, but exports slumped to $6.151 billion as against $6.545 billion in the previous fiscal.

The Pakistan government has also committed to pump Rs 64.15 billion in order to boost exports, under the new Textile Policy, which runs from 2015-2019.

Pakistani media reported that government has also extended an additional incentive package of Rs 180 billion to lift dipping exports and the export financing rate offered to the sector stands at just 3.5 per cent, the lowest in the past ten years. (AR)

Fibre2Fashion News Desk – India


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