Race to plug apparel void

Pakistan textile production and exports are poised to grow this year as displaced orders from Bangladesh shift here. The extent of this increase, however, hinges on how swiftly millers and the government can adapt to fully seize the opportunity. Business sources claim, given the right policy environment, textile exports could surge from current $16.5 billion to $20.5bn, marking a record $4bn gain within a year. Government circles, however, are less optimistic, projecting an increase of $2bn to $3bn in textile exports for FY25. The recent monetary policy statement touched on this potential, noting the brighter outlook for textile trade. It stated: “Export earnings are expected to remain stable as the growth in high value-added textiles is expected to compensate for the likely reduction in rice exports.”