ISLAMABAD: Minister of State for Information and Broadcasting Farrukh Habib on Monday said textile sector achieved pinnacle of its performance in July by recording $1.49 billion during first month of the current fiscal year 2021-22.
In a news statement issued by the minister’s office, he said when the Pakistan Tehreek-e-Insaf government came into the power in 2018, textile sector was at a halt and the best price for power looms were being offered at scrap yards due to weak [economic and commerce] policies of Pakistan Muslim League-Nawaz (PML-N) government.
“Today, textile sector is booming. In July [2021-22] alone, textile exports reached $1.49 billion dollars which is 17 per cent higher than the last year’s July, ” he added.
Prime Minister Imran Khan’s exports friendly steps had started bearing fruits, the minister said while pointing to 19.7 per cent growth in overall exports during July 2021-22.
The exports were recorded at $2.3 billion in July, he noted.
Farrukh said surge in exports helped raise foreign exchange reserves of the country amid whopping rise in the sector’s exports.