No Result
View All Result
Monday, June 9, 2025
MM News
اردو
  • Home
  • Latest News
  • Showbiz
    Ana de Armas in a scene from "Ballerina." (Lionsgate via AP)

    How to watch Ana de Armas’ ‘Ballerina’ online

    SI Film

    Love Guru Review: Hit or flop?

    (Credit: Europa Press)

    ‘I Am Georgina’ won’t return as Netflix ends show about Ronaldo’s girlfriend

    Ali Zafar drops first Shina song ‘Karay Karay’ on Eidul Adha

    Ali Zafar releases first Shina language song ‘Kare Kare’

    Hania Aamir, known for her lively spirit, surprised fans with a photo carousel from Makkah, Saudi Arabia while Sana Javed, dressed in a peach ensemble, celebrated Eid with her cricketer husband Shoaib Malik

    Pakistani celebs celebrate Eidul Adha 2025 in style

    Directed by Tarun Mansukhani and produced by Sajid Nadiadwala, Housefull 5 features a power-packed lineup including Akshay Kumar and Abhishek Bachchan

    When will Akshay Kumar’s ‘Housefull 5’ get OTT release?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • Showbiz
    Ana de Armas in a scene from "Ballerina." (Lionsgate via AP)

    How to watch Ana de Armas’ ‘Ballerina’ online

    SI Film

    Love Guru Review: Hit or flop?

    (Credit: Europa Press)

    ‘I Am Georgina’ won’t return as Netflix ends show about Ronaldo’s girlfriend

    Ali Zafar drops first Shina song ‘Karay Karay’ on Eidul Adha

    Ali Zafar releases first Shina language song ‘Kare Kare’

    Hania Aamir, known for her lively spirit, surprised fans with a photo carousel from Makkah, Saudi Arabia while Sana Javed, dressed in a peach ensemble, celebrated Eid with her cricketer husband Shoaib Malik

    Pakistani celebs celebrate Eidul Adha 2025 in style

    Directed by Tarun Mansukhani and produced by Sajid Nadiadwala, Housefull 5 features a power-packed lineup including Akshay Kumar and Abhishek Bachchan

    When will Akshay Kumar’s ‘Housefull 5’ get OTT release?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
No Result
View All Result
No Result
View All Result
MM News
اردو
  • Latest
  • Thought Box
  • Showbiz
  • Business & Stock
  • Opinions
  • Technology
  • The Other Side-Pakistan
Home Business & Stock

Textile exports to reach $21 bn in fiscal year: Commerce Adviser

MM News Staff by MM News Staff
February 17, 2022

ISLAMABAD: Adviser on Commerce and Investment Abdul Razak Dawood said the government set an export target of $ 200 billion by the end of Fiscal Year 2025.

Addressing the press conference while launching the ‘3rd Textile and Apparel Policy’ approved by the ederal Cabinet, Razak Dawood hoped that the country’s textile exports would increase from the current $15 billion to $21 billion by June 30, 2022.

The key features of the 3rd Textile and Apparel Policy recently approved by the cabinet include value addition in textile, manufacturing of globally competitive products according to the global trading market, and subsidizing more facilities in this sector so that it can compete with its regional competitors, he said.

“We have seen a 32 percent growth in textiles this year, which is expected to reach 26 percent by the end of the coming year,” he said, adding that Pakistan’s share in the global textile market is 1.8 percent, which needs to be increased and it has vast potential for further expansion.

He said that the government has rationalized tariff and has reduced the duties in many areas of textile from zero to 50 percent. Similarly, textiles machinery is also being imported in the textile sector on which duties have been reduced so that modern machinery can be brought in the textile industry and its products can be introduced in the global competitive market.

READ MORE: Textile exports surge 17.35% to $12.692bn in fiscal year

The Adviser said that the government was trying its best to make the current growth in textile sustainable so that it could contribute to the economic growth of the country. He said that is why the government is incentivizing the textile sector through short and long-term policies. Similarly, the government has provided full facilities to the textile and non-textile sector through Duty Drawback on Local Taxes (DLTL) payments.

He said that textile has grown in both value-added and non-value added. He said Pakistan was ranked fifth globally in cotton and yawn, second in demon and fabrics and also second in cotton clothier. He informed that in textile value-added, Pakistan is second in home textile, second in Towel, third in hosiery and 17th in apparel.

Regarding past performance in this sector, he said that over the last ten years, our position in the textile sector has been the same. He said that the government is introducing new markets and products in textile under the policy of trade diversification at geographical and product level on both sides.

He said earlier Pakistani exports were limited to only ten markets, now work is underway in new markets. Similarly, textile innovation and technology introduction products are manufactured in line with the global competitive markets.

The Adviser said that the value of textile in the global market is valued at $1 trillion, while the market for other commodities like Information Technology (IT) and Chemicals is much bigger. That’s why the global market for information technology and pharmaceuticals, such as non-traditions items, now stands at $5 trillion and chemicals account for $4 trillion, he maintained.

ShareTweetSendShare
Previous Post

Here’s how Pakistani celebrities mourn on demise of Bappi Lahiri

Next Post

PM launches portal to address scholarship complaints

Related Stories

Business & Stock

Pakistan’s IT exports up by 23.7% to $2.8 billion in FY25

June 9, 2025
Finance Minister Muhammad Aurangzeb on Monday presenting the Pakistan Economic Survey 2024-25 in Islamabad (Image: Dawn News)
Business & Stock

Pakistan Economic Survey 2024–25: From inflation to growth – key takeaways

June 9, 2025
Pakistan Finance Minister Muhammad Aurangzeb shows a copy of the economic survey of fiscal year 2024-2025 during a news conference in Islamabad, Pakistan June 9, 2025. — Reuters
Business & Stock

Pakistan misses growth target as Economic Survey 2024-25 unveiled

June 9, 2025
Bhatta Chowk cattle market
Bakra Eid 2025

Over 1.1 million sacrificial animals sold in Punjab ahead of Eidul Adha

June 9, 2025
Business & Stock

Federal budget 2025-26 to be presented tomorrow

June 9, 2025
Business & Stock

Major targets missed as Pakistan’s Economic Survey 2024-25 to be presented tomorrow

June 8, 2025
Business & Stock

Motor Dealers Association hopes govt will ease used vehicle import restrictions

June 8, 2025
(APP)
Business & Stock

Karachi’s Northern Bypass cattle market sees over 150,000 animals sold since April 19

June 7, 2025
Business & Stock

Budget 2025-26: Govt to increase withholding tax for non-filers

June 7, 2025
Pakistan’s Minister of State for Crypto and Blockchain Bilal Bin Saqib meets New York City Mayor Eric Adams (left) in NewYork City on June 6, 2025. (Pakistan Crypto Council)
Business & Stock

Bilal Bin Saqib meets New York City Mayor to strengthen bilateral cooperation

June 6, 2025
Next Post
The portal will be linked with Linked with the Prime Minister Citizen Portal. Source: PID.

PM launches portal to address scholarship complaints

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trending Stories

Business & Stock

Pakistan’s IT exports up by 23.7% to $2.8 billion in FY25

by MM News Staff
June 9, 2025
Finance Minister Muhammad Aurangzeb on Monday presenting the Pakistan Economic Survey 2024-25 in Islamabad (Image: Dawn News)
Business & Stock

Pakistan Economic Survey 2024–25: From inflation to growth – key takeaways

by MM News Staff
June 9, 2025
Pakistan Finance Minister Muhammad Aurangzeb shows a copy of the economic survey of fiscal year 2024-2025 during a news conference in Islamabad, Pakistan June 9, 2025. — Reuters
Business & Stock

Pakistan misses growth target as Economic Survey 2024-25 unveiled

by MM News Staff
June 9, 2025
(Representational Image)
Top News

Rs22.21 billion allocated for Pakistani students to study abroad

by MM News Staff
June 9, 2025
Renna O’Rourke went into cardiac arrest after inhaling fumes from a compressed air product typically used to clean keyboards—an act also referred to as "huffing." (Image: Facebook)
Trending

What is the viral ‘dusting challenge’ that led to Arizona teen’s tragic death?

by MM News Staff
June 9, 2025

Opinion

munir ahmed oped
The Betrayals Within: From Homes to Halls of Power
June 5, 2025
- Munir Ahmed
munir ahmed oped
AIF 2025 – A Rallying Cry for Unity in a Fractured World
May 31, 2025
- Munir Ahmed
munir-ahmed-oped-2-1140x1140
Eurasian Economic Union at 10: Looking Beyond the Decade
May 29, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

File photo
Bakra Eid 2025

Eidul Adha holidays: PDMA issues heatwave alert

by MM News Staff
June 5, 2025

Punjab Provincial Disaster Management Authority (PDMA) has issued an alert regarding temperature rise and...

representative image

Severe heatwave warning issued nationwide for Eid holidays

June 5, 2025
President Asif Ali Zardari

World Environment Day: Climate disasters displace millions in Pakistan: President

June 5, 2025
Image: ET

Weather updates for Karachi and other parts of country

June 5, 2025
See all

Prices

Solar panels installed at a Peshawar park to meet lighting needs. (Image: Dawn.com)
Business & Stock

Govt likely to impose 18% sales tax on solar panels in budget 2025-26

by MM News Staff
June 6, 2025

Pakistan is poised to introduce major changes to its taxation framework in the upcoming...

Karachi consumers get Rs2.99/unit relief, power rates hiked elsewhere

June 5, 2025
(File)

Gold price increases Rs4,300 per tola

June 5, 2025
(Representational Image)

Will govt scrap solar net metering in budget 2025-26?

June 5, 2025
See all

Transport News

File
Transport

Karachi Green Line BRT to receive Rs42.7 billion in PSDP 2025-26

by MM News Staff
June 9, 2025

The federal government has set aside a total of Rs. 42.7 billion under the...

Lack of adequate public transportation facilities in Karachi has made rickshaws a popular transport.

Sindh govt bans four-seat rickshaws in Karachi

June 6, 2025

Air Karachi granted regular public transport license

June 5, 2025
(Representational Image, Credit: ProPakistani)

How to apply for Punjab electric taxi scheme

June 4, 2025
See all

MM Digital (Pvt.) Ltd.

MM News is a subsidiary of the MM Group of Companies. It was established in 2019 with the aim of providing people of Pakistan access to unbiased information. Contact Details: 03200201537

Quick Links

  • Home
  • Advertise
  • MM News Urdu
  • The Other Side-Pakistan
  • Contact Us
  • Privacy Policy

Top Pages

  • Latest News
  • Showbiz
  • OP-ED
  • Technology
No Result
View All Result
  • Latest News
  • Thought Box
  • Showbiz
  • Business
  • Opinions
  • Technology

© Copyright 2024 MMNews - All Rights Reserved.