After achieving an impressive 6.2 per cent increase on Year-on-Year basis in March 2017 worth US $ 1.064 billion, Pakistan is eyeing more than US $ 500 million increase in textile exports in next three months.
The country’s Ministry of Textiles reports that the recent increase in the textile sector after a long dip is mainly due to the decrease in duties. An official says, “We have zeroed customs duty from 4 per cent. Likewise, sales tax has been zeroed from 5 per cent. We have introduced made-ups.”
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He said it would take some time to get the maximum benefit of the Government support. “By end of June, we are expecting an increase of US $ 500 to US $ 1,000 million in exports,” he stated while mentioning that Pakistan is determined to achieve this planned target.
