Pakistan : Heavy Investment In Textile Sector Starts To Benefit

The products has started earning more foreign exchange for the quantity exported thanks to the heavy investment in the textile sector which has started to reap benefits.The most beneficial was the readymade garments sub-sector. Both cotton yarn and cotton cloth also remained positive in terms of foreign exchange earning.Cotton cloth exports increased by 5 per cent, while it earned 17 per cent more in terms of dollars.Cotton yarn exports declined by 3.4 per cent but the dollar earnings remained positive.

The textile sector has invested about US$2 billion during last four years for BMR.Textile is the only sector in the country which has prepared itself to face the tariff-free regime imposed by the WTO, which is scheduled to begin from January 1, 2005