ISLAMABAD: Minister of State for Information and Broadcasting Farrukh Habib on Monday said the textile sector achieved the pinnacle of its performance in July by recording $1.49 billion during the first month of the current fiscal year 2021-22.
In a news statement issued by the minister’s office, he said when the Pakistan Tehreek-e-Insaf government came into power in 2018, the textile sector was at a halt and the best price for power looms was being offered at scrap yards due to weak [economic and commerce] policies of Pakistan Muslim League-Nawaz (PML-N) government.
“Today, the textile sector is booming. In July [2021-22] alone, textile exports reached $1.49bn dollars which are 17 per cent higher than the last year’s July,” he added.
Prime Minister Imran Khan’s exports friendly steps had started bearing fruits, the minister said while pointing to 19.7pc growth in overall exports during July 2021-22.
The exports were recorded at $2.3bn in July, he noted.
Farrukh said the surge in exports helped raise foreign exchange reserves of the country amid a whopping rise in the sector’s exports.
