Pakistan’s textile industry is one of the few bright spots for Pakistan’s economy where exports are surging in the country’s favor. It wasn’t until the pandemic that Pakistan’s industry gained a boon, beating its industrial nemeses Bangladesh and India in the competition. Only 3-4 years ago, Bangladesh was giving Pakistan a run for its money. According to Abdul Razak Dawood, the commerce advisor to Pakistan’s prime minister, textile exports are expected to cross 40% in comparison to 2021, which had a record of US$ 21 billion in 12 months, ending in June. The next fiscal year holds prosperous tidings for the Textile Industry with the revenues expanding to US$ 26 billion, according to Abdul Razak Dawood. The commerce advisor to Pakistan’s premier has played a key role in the development of the textile industry. Back in 2021, Abdul Razak revealed an investment worth USD$ 5 billion that was in pipeline for establishing 100 new textile units. This investment has proved to be crucial for not just the incredible expansion of the current textile industry, but also for creating 500,000 new jobs which is a tremendous boost to the economy.
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
The efforts of Abul Razak have bore fruit, resulting in the textile group exports crossing USD$ 15 billion – the highest ever in the first two months of any fiscal year – during the fiscal year 2021. Currently, Abdul Razak Dawood is pushing the government to maintain tens of millions of dollars of policy support for the export industry, and the textile industry is at the center of all the exports. Currently, the government targets an ambitious growth of 4.8% in 2021-2022.
As of the current year, the Textile Industry of Pakistan is contributing to a major part of our exports, which shows the industry’s true potential. Faisalabad, in this regard, is the crownless king among other Pakistani cities when it comes to textile exports. Be it Denim jeans for the USA, or the cycling apparel that sells like hot cakes in the UK, the supply demand of Faisalabad’s exports speaks for itself.
NTU Launches Pakistan Textile Portal
Considering how Pakistan’s Textile Industry is shining over the top, the National University of Textile (NTU) has taken an amazing initiative that will sustain the industry’s success. NTU has launched the first-ever “Pakistan Textile Portal”. It will come in handy especially for the local textile millers and Small and Medium Enterprises (SMEs).
The portal was formally introduced at an inauguration ceremony, held at the Faisalabad Chamber of Commerce and Industry (FCCI) on Friday, 28th January 2022. The president of FCCI, Atif Munir Sheikh, highlighted the importance of this portal, saying that it would help the textile industry accomplish all the ambitious goals that it has set for this year.
One Window Solution for All
Until now, the textile industry had been operating in an orthodox and traditional manner, which limited its approach in many ways. This also meant that the businesses lacked single-point access to all the relevant information. With the introduction of this web portal for the Pakistan Textile Industry, the SMEs and local textile millers now have one platform that contains all the textile-related information. The FCCI President, Atif Munir Sheikh, emphasized the importance of making a transition from traditional textile to technical textile. The portal will help the businesses make this transition and NTU will also extend its services regarding this matter.
The registration is completely free. The SMEs can now upload their brand information and showcase their products as well as their manufacturing capacity on the portal. Dr. Hafsa Jamshed, the Associate Professor at NTU, highlighted the capabilities of this portal, saying that it can be translated into seven languages and will open doors for B2C (Business to Customer) and B2B (Business to Business) transactions or dealings. Dr. Hafsa has said that other organizations can also hold awareness sessions that will allow other users to familiarize themselves with the portal and its usage. The scope of this new facility can then be gradually expanded to Pakistan, and then to the world.