Textile exports hit $1.5 bln

By Ali Imran

ISLAMABAD: Minister of State for Information and Broadcasting Farrukh Habib on Monday said textile sector achieved pinnacle of its performance in July by recording $1.49 billion during 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 the power in 2018, textile sector was at a halt and the best price for power looms were being offered at scrap yards due to weak [economic and commerce] policies of Pakistan Muslim League-Nawaz (PML-N) government.
“Today, textile sector is booming. In July 2021-22 alone, textile exports reached $1.49 billion dollars which is 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 19.7 per cent growth in overall exports during July 2021-22. The exports were recorded at $2.3 billion in July, he noted. Farrukh said surge in exports helped raise foreign exchange reserves of the country amid whopping rise in the sector’s exports.