Related Keywords: barriers to MMF textile imports, bring share in international market down, diversification to explore new exports avenue, facing liquidity crunch, fails to invest in modernization, lack of product diversity, Pakistan local textile industry, textile exports plunged, total exports in current fiscal down, unable to benefit from GSP plus status
As Pakistan’s local textile industry fails to invest in its modernization, lack of product diversity and diversification to explore new exports avenue, bringing it’s share in the international market down which has affected textile exports. In the first 10 months of the current fiscal year, textile exports has plunged by 7.72 percent to $10.395 billion, as per official data.
The Pakistan Bureau of Statistics (PBS) data showed that textile exports fetched $11.26 billion in the July-April period of the last fiscal year.
