Pakistan’s textile sector has helped the country pass through a difficult phase, especially during 2020, which is still a threat to the entire world. Textile sector is called the backbone of Pakistan’s economy as it enjoys around 60% share in total exports. “Pakistanis normally follow the trend and the same is the case with textile sector,” said Ulfat Textile Mills Managing Director Adeel Usman. In financial year 2019-20, Pakistan’s textile sector fetched $12.5 billion in export earnings against $13.33 billion in 2018-19, whereas in 2010-11 the export revenue stood at $13.8 billion. “The real strength of this sector will be visible when industrialists, who are not hitherto part of the textile sector, invest in Greenfield projects.”It could not be done until the government streamlined things for the sector, Bashir said.

Source: The Express Tribune December 27, 2020 03:53 UTC