The US$5bn investment to create the textile units is part of the government’s ‘Make-in-Pakistan’ policy, a plan to grow industrial activity in the country.
Abdul Razak Dawood, adviser to the Prime Minister on commerce, confirmed the news in a tweet adding the investment would enhance export capacity.
Go deeper with GlobalData
Our Make-in-Pakistan policy is beginning to show results. We have been informed that an investment of approximately USD 5 Billion is in the pipeline under which 100 new textile units are expected to be established. Apart from enhancing export capacity,
— Abdul Razak Dawood (@razak_dawood) October 7, 2021
these are likely to create about 500,000 Jobs. This government has reversed the de-industrialisation and Insha’Allah, we are now on a path of industrial growth in Pakistan.
GlobalData Strategic IntelligenceUS Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData🇵🇰 @aliya_hamza @mincompk @investinpak #Pakistan #PakistanMovingForward #textiles #industry
— Abdul Razak Dawood (@razak_dawood) October 7, 2021
A local news report, citing Shahid Sattar, secretary-general and executive director of the All Pakistan Textile Mills Association, said the investment would be used to enhance the value-added offering of Pakistan’s textile industry and would boost productivity in sectors from spinning to stitching.
The capacity utilisation and price increase in international markets would help increase textile exports.
“We are hoping the textile exports will be increased from $15.5 billion in last fiscal to $21 billion during the current fiscal year,” he added, according to the report.
In its most recent set of import data, the US Department of Commerce’s Office of Textiles and Apparel (OTEXA) revealed of its top ten supplier countries, Pakistan had booked the largest increase in shipment volumes of apparel during August.
