The Pakistan Bureau of Statistics (PBS) on Monday stated that a rise of 6.2pc year on year was recorded in textile and clothing exports which reached $1.064b by March, mainly driven by value-added products such as garments. Exports of readymade garments registered an increase of 19.5pc and knitwear rose 5.4pc in March. And exports of bed-wear and towels increased by 5.4pc and 15.8pc respectively.
Cotton yarn exports also saw a rise year-on-year of 5pc. A decline in exports of cotton cloth and yarn (other than cotton’s) was recorded at 5.5pc and 26.9pc.The receipts from silk, art and synthetic textile rose by 2.7pc and the ones from raw cotton declined 2.9pc year on year. The exports of items like tents, canvas and tarpaulin rose by 71.8pc and made up articles excluding towels increased 16pc.In the current nine months of this FY 2016-17, a decrease of 0.89pc year on year was recorded in the exports of textile and clothing products. A 3pc decline was witnessed in total export receipts in the period of July-March 2017, reaching $15.118b.
The government in the preceding year had introduced a policy which provided a 4pc rebate on exports of readymade garments subject to a 10pc rise over the previous year, 1pc on fabric and 2pc on home textile. The exporters were paid out Rs 2.5b in the last financial year by the government due to the introduction of this policy.
In a textile incentive package worth Rs180b announced this January by the Prime Minister, the rebate for readymade garments was increased to 7pc, but it has also permitted cash support of 4pc on yarn and grey cloth.
