In the current fiscal year, a decrease of 14.5 percent or about 3 billion dollars was recorded in textile exports on an annual basis.
Dawn Import/Export Reporter
Islamabad: The effects of the implementation of the strict conditions of the International Monetary Fund (IMF) will begin to emerge, and the removal of incentives for the export sector on the demand of the IMF has started to affect exports. A decrease of 14.5 percent or about 3 billion dollars was recorded on the basis. Sources say that the incentives for the export sector were removed on the demand of the IMF and the continuation of exports was broken due to the implementation of strict conditions of the IMF. In the year 2022, textile exports had reached a record of 19 billion 30 million dollars, but this trend could not be maintained and in the financial year 2023, textile exports decreased to 16 billion 50 million dollars. According to government sources, on the demand of the IMF, the export sector Therefore, ending the supply of electricity and gas at subsidized rates resulted in increased cost of production, which made the industry uncompetitive internationally and thus had a negative impact on domestic exports.
