Textile exports post paltry growth in FY24

Textile and clothing exports posted a modest growth of 0.93 per cent in FY24, indicating that the sector may not be able to compete with regional rivals due to the implementation of harsh taxation measures in the current fiscal year. The impact of the highest-ever energy cost is evident in the export results for June, which fell 3.91pc from the previous year, according to Pakistan Bureau of Statistics data issued on Thursday. Former commerce minister Gohar Ejaz told Dawn on Thursday that textile and clothing exports have stayed the same in the last two years despite having a $25 billion installed capacity. He added that exports from the same sectors had been static for the past two years.