May Day appeal for the textile sector
Islamabad: Pakistan’s economy revolves around two main components namely textiles and energy because 60% of our exports are textiles while 30% of imports are energy. This becomes more critical when various studies project the export potential at $50 billion annually by 2030, although their value was just $16.5 billion in the financial year 2022-23, with the all-time high reaching $22.1 billion dollars in 2022. Some sources put this possibility as high as $100 billion. If realized, it can easily pull us out of the perennial malaise of the balance of payments deficit, the root cause of all our economic woes.
