Pakistan’s export of textile and clothing fell by over five per cent in the first two months of the current fiscal year from a year ago.
There are fears of major layoffs owing to deceleration in production.
The decline in exports started in July 2014 despite the preferential market access to the EU.
The textile and clothing sector has been facing chronic energy shortage and has suffered grievously as a result.
“After efforts of years, Pakistan was inducted in the club of countries enjoying free market access for most of its products in the European Union, but the government failed to capitalise on the opportunity,.In absolute terms, export proceeds fell to $2.169 billion in July-August 2014 from $2.289bn over the corresponding months of last year, suggested data of Pakistan Bureau of Statistics here on Saturday.
Last year, export proceeds grew by 2.75pc and reached $25.132bn from $24.460bn over the corresponding period of previous year.
