Measures sought to promote industrialisation.

LAHORE -- Textile exporters on Thursday urged the government to take measures for kickstarting industrialisation as exports growth remained tepid during the July-November period of this fiscal year.

Appreciating the 33 per cent drop in trade deficit to $9.496 billion from $14.47bn during the first five months 2019-20, Pakistan Textile Exporters Association (PTEA) Chairman Sohail Pasha noted that the decline was mainly contributed by sharp reduction in imports.

'Our exports have fallen by 0.67 per cent in November over the preceding month while average rise in exports in first five months is less than 5pc, indicating that achieving the export target will be pretty tough this year,' said Pasha, according to a press release issued by the association.

For the first time in 15 years, country's imports continue to decrease, the PTEA chief noted. However, low export volumes are still a major issue for economic growth. Lack of diversification in products and export destinations along with high cost of doing business are among the key...

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