KARACHI: Pakistan’s textile exports displayed yet another stagnant performance during April 2019, registering a 1% YoY decline to close the month at US$1.14bn, compared to US$1.15bn in the same month last year.
[the_ad id=”32940″]A poor performance by yarn exports has again been a major reason for the lackluster showing by textile exports.
Despite the Pak rupee devaluation of 14% YoY during 10MFY19 (July-April 2018-19), there has been no improvement in textile exports during the period.
It remains to be seen if textile exports can pick up from current levels, considering significant devaluation.
On the other hand, the future of gas subsidy for Punjab textile players and sales tax refunds remains uncertain in the wake of the upcoming IMF program.