News Tags

Related Keywords: cotton yarn, delay in disbursement, downward trend, European Union, export of knitwear, export refund claims, exports declined, GSP, ICST, international market, Islamabad Chamber of Small Traders, largest foreign exchange earning sector, Pakistan textile exports, Preferential market access, raw cotton, shortage of electricity, textile owners

Pakistan’s textile exports, the largest foreign exchange earning sector is facing a downward trend by 12.11 percent in the current year. Exports have declined to $8363 billion this year. Although the country is reaping the benefits of GSP, it has shown bleak performance in the export sector over which the Islamabad Chamber of Small Traders (ICST) on Sunday expressed deep concern and terming it unacceptable.

Related Keywords: boost exports, Export Policy, GSP Plus facility, IWCCI, largest employment providing sector, largest foreign exchange earning sector, Pakistan textile exports, plunged in july, raise concern over all in textile exports

Pakistan’s textile exports, which is the largest foreign exchange earning sector of the country has plunged to $982.6 million in July as compared to $1.02 billion in July last year, concern is raised over the fall in textile exports as it is the largest employment providing sector outside agriculture by Islamabad Women Chamber of Commerce and Industry (IWCCI).

It called for immediate attention as the fall of textile sector will damage overall economy and hit forex reserves.