Ministry drafts strategy to uplift textile exports
06 Apr '07
1 min read
Ministry of Textile (MINTEX) is drafting a major development plan to push up textile and clothing exports from the present US $9.8 billion to $22 billion and $25 billion by 2013.
Prime Minister Shaukat Aziz has approved a strategy, for upgrading the country's total exports from $16.5 billion to $45 billion during 2006-2013 period, through diversification and competitiveness.
This project will include enhancing textile exports by cluster development, human resource development, raw material supply, joint ventures, value addition, marketing and promotion.
During July-February 2006-07 textile exports surpassed $7 billion mark against $6.6 billion during the same period of last fiscal, but it was much below the projected growth of 11 percent each year.
Currently, the GDP stands at $128.90 billion with export to GDP ratio of 13 per cent, which will be growing and is expected to reach at $288.70 billion with exports to GDP ratio of 15 per cent by year 2013.
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