The improvement in the value-added sector helped increase overall exports by 5.62 percent to USD 14.25 billion on a year-on-year basis.

 

Commerce Adviser Razak Dawood said that abolishing of duty and taxes on industrial raw materials as well as paying off past pending refunds to exporters. The devaluation of the rupee and lower interest rate accelerated industrial growth, especially in the export-oriented industries.

 

Mr Dawood said that it was his government’s policy to provide uninterrupted electricity and gas to the export sector.

 

On the issue of delay in textile policy, the adviser said that the government is looking into various options on how to support small exporters. The delay, he added, is only because of this reason. The government has decided to announce a five-year textile policy laden with over an Rs1 trillion support for the sectors. Product-wise details reveal exports of knitwear increased by 18.74 percent in value quantity, followed by 15.91 percent in value of bedwear, respectively. Foreign sales of readymade garments rose by 5.48 percent in value, while proceeds from towels inched up by 19.91 percent in value during the July-January period.

 

According to the PBS data, the export of cotton cloth dipped by 8.63 percent between July and January this year from a year ago, followed by cotton yarn 23.97 percent, and raw cotton by 96.27 percent.

 

In the non-value-added sectors, the export of yarn other than cotton was up by 4.63 percent, tents, canvas 48.95 percent, art and silk 0.45 percent, made-up articles excluding towels, bedwear 18.01 percent and other textile products 37.75 percent during the period under review.

 

Source: dawn.com