Industry And Cluster | News & Insights

During the fiscal year 2020-21, textile production increased by 5.90 percent

Published: June 11, 2021
Author: Manali bhanushali

Textile production increased by 5.90 percent in fiscal year 2020-21, compared to a 2.58 percent decrease in the same period last year.

According to the Economic Survey released here on Thursday by Minister of Finance and Revenue Shaukat Tarin, a significant increase in woollen segment production can be attributed to international agency projections of an early onset of the winter season.

Similarly, the pandemic has proven to be a blessing in disguise for garment manufacturers, as there has been a surge in export orders from European and American markets for Pakistan’s garment sector because of COVID-19’s severe impact on our regional countries.

Cotton yarn and cotton cloth production also contributed significantly, increasing by 3.1 and 3%, respectively. The government has facilitated the sector, such as tax refunds and duty drawbacks, which is bearing fruit and has begun to pick up the pace.

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