According to Interim Commerce Minister Dr. Gohar Ijaz, more than 1,600 textile manufacturers closed across the nation in the previous sixteen months.
The minister emphasised that industries spanning the whole value chain—from ginning, weaving, spinning, and processing to garment manufacturing—were shut down, according to a story in Dawn. He continued by saying that several industries were also producing at lower levels.
According to the trade minister, the textile and apparel industry has had impacts on about 20% of its total installed capacity during the past 16 months.
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According to the minister, the government is putting the finishing touches on a strategy plan to offer regionally competitive energy pricing, working capital support, prompt refund reimbursements, improved market access, and product diversification.
According to the minister, the policy statement would enable the nation’s full production capacity potential.
According to the most recent data made public by the Pakistan Bureau of Statistics (PBS), Pakistan’s exports in August 2023 totaled 2.36 billion, down 4.8 percent from the $2.48 billion in exports recorded in August 2022 but up 14.3 percent from the $2.07 billion in exports recorded the month before.
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The growth month over month was attributed by the minister of commerce to the success of the caretaker government’s programmes. It is crucial to note that the Anwaar-ul-Haq Kakar’s caretaker government members took their oaths on August 17.
Ejaz added that tomorrow (Monday), the Federal Board of Revenue (FBR) will transfer Rs. 31 to the exporter’s account. The payment, he continued, will be followed by another refund payment to exports in the near future, which will help to alleviate some of the exporters’ operating cash problems.
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