Islamabad: The Pakistan Bureau of Statistics (PBS) on Tuesday notified a 17% increase in the export levels of the textile and clothing sector for February – as compared with last year’s figures for the same month, according to news sources.
As per the data, the proceeds from textile and clothing exports reached USD 1.27 billion in February, as compared with the sum of USD 1.09 billion gathered in the same month in 2019. The growth ratio experienced in the textile export sector is remarkable as for the last few years is limited to single-digit increase.
The authorities have associated this increase with excessive orders received last month. Moreover, the growth in the exports has also been encouraged by the reduced cost of raw materials and semi-finished products in the last budget, by exempting them from custom duties.
In a related development, the government has announced that it
will refund the sales tax collected from the export-oriented sectors.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
