Pakistan’s export of textile and clothing increased by 6.51 per cent in October 2014, reviving hopes of better export proceeds from the sector.
In absolute terms, export proceeds of the sector surged to $1.180 billion in October 2014 from $1.108bn over the corresponding month of last year, suggested data of Pakistan Bureau of Statistics here on Tuesday.
A decline was being witnessed in the sector’s export growth rate since July 2014 which led the government to take action to arrest the negative trend.
A committee was constituted recently to find out ways and means for supply of gas to the textile mills, especially in the Punjab. However, a final decision is still awaited.
Moreover, the government also announced cash subsidy on exports from low to high value-added textile and clothing sectors. The scheme is effective from July 1.
