The textile industry in Pakistan is gaining momentum owing to some far-sighted policies initiated by the Government of Pakistan. This was announced by Abdul Razak Dawood, Adviser to Prime Minister on Commerce, Textile, and Investment, while addressing the Senate Standing Committee on Commerce and Textile, recently.
He expressed optimism that the textile sector would play an important role in achieving and surpassing the overall export target of US $ 25 billion by the end of present fiscal year.
In a recently concluded meeting with industry stakeholders, Abdul Razak assured them the complete support of the Government if the industry upgraded in all aspects.
The industry is expected to witness further boom once China starts importing textile products from Pakistan.
More on the same, the adviser said that China’s assurance of importing products worth US $ 1 billion from Pakistan was excluded from the free trade agreement and, therefore, would be exempted from duties.
He also added that under the agreement, China would import 350,000 tons of cotton yarn from Pakistan.