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Related Keywords: Danish Company, EU delegation, GSP Plus status, in skill development, meet Punjab Chief Minister, Pakistan textile exports, potential to generate electricity, promotion of cooperation, Shahbaz Sharif, shortage of electricity, strengthening economic and trade relation, to discuss matter of mutual interest

Pakistan has strong and friendly relations with the countries of European Union. A representative delegation of European parliament called on Punjab Chief Minister Shahbaz Sharif on Friday to discussion matters of mutual interest, strengthening of economic and trade relations and promotion of cooperation in skill development, health, education and other sectors.

Shahbaz at the meeting told the EU delegates that Pakistan’s textile exports had increased by one billion dollars after the country was granted GSP Plus status, which has left a positive impact on national economy.

Related Keywords: Commerce Minister, European Union, Garments, GSP Plus status, home textile, Khurram Dastagir, Pakistan export, Pakistan textile exports, preferential tariff, towels

Pakistan’s exports to the European Union during the first 10 months (Jan-Oct) of 2014 advanced by 20 percent to $6.38 billion compared to the same period last year’s $5.3 billion was disclosed by Commerce Minister Khurram Dastagir during a seminar.

Dastagir said that the preferential tariff scheme boosted export of textile, leather goods, footwear and plastic products.

Pakistan’s textile exports to the EU increased from to $4.4bn from $3.6bn. The exports of garments grew by 28percent, home textiles by 30percent and towels by 23percent.

Related Keywords: APTMA, inordinate tariff rates, lay-ff textile workers, Pakistan textile exports, Punjab based textile industry, suspension of power supply

Punjab-based textile industry has been already operating in very difficult times through a combination of electricity and gas, despite serious cost-ineffectiveness due to inordinate tariff rates. Moreover, suspension of power supply over the last two days left the mills with no option but to close down two shifts and lay-off textile workers.

Related Keywords: enhance energy supply, knitwear export, Pakistan textile exports, readymade garment export, signed agreement, Tadjikistan and Kirghizistan

Pakistan has signed an agreement with Tadjikistan and Kirghizistan at the beginning of December to enhance the country’s energy supply. With the improvements underway, Pakistan is looking to increase its textile exports over the next nine years, and hopes to increase 2013’s €466m profit further with predictions for $26bn profit in textile exports by 2023.

Related Keywords: decline of 1.54 percent, financial year, GSP Plus status, Pakistan textile exports, power crisis, provide gas supply, textile made goods

Pakistan has exported textile made goods worth of $4.6 billion during four months (July-October) of the financial year 2014-2015 as against $4.7 billion of the corresponding period of the previous year registering decline of 1.54 percent due to the ongoing power crisis faced by the textile sector despite receiving GSP plus status from the European Union

Related Keywords: cotton, cotton control Act, extra long staple varieties, grading of cotton, international standards, Long Term Financing facility, MoTI, Pakistan Central Cotton Committee, Pakistan Cotton Standards Institute, Pakistan Minister for Textile Industry, Pakistan textile exports, Textiles Package, up gradation of technology

The Minister for Textile Industry (MoTI), Pakistan has taken step to meet the international standards for cotton as well as to higher Pakistan textile exports to other countries.

The MoTI has instructed provincial governments to implement the cotton control Act to ensure standardization and grading of cotton according to international standards adopted by the Pakistan Cotton Standards Institute (PCST).