Textile exports to grow at higher pace during FY 2012-13

ISLAMABAD: Textile sector of the country is expected to grow at higher pace during fiscal year (FY) 2012-13 mainly due to concessions given by the World Trade Organisation (WTO) to Pakistani textile products.
“It is hoped textile products would be exported in huge quantity to European Union (EU) after approval of concessions by WTO to Pakistani textile products in February 2012”, said official sources on Tuesday.
Our exporters are expected to comply with different international obligations, like ISO Certifications, produce and export quality product and ensure timely exports, the sources added.
Sources said the targeted growth rate for industrial sector in 2012-13 has been set at 4.1 percent as a whole, for manufacturing sector 4.4 percent, while 3.0 percent and 7.5 percent growth rates have been fixed for Large Scale Manufacturing and Small Scale Manufacturing respectively.
Major projects of textile to be executed include Pak-Korean Garments Technology Training Institute, Karachi (Rs 300 million), Lahore Garment City Company, Lahore (Rs 587 million), Faisalabad Garment City Company, Faisalabad (Rs 499 million) and providing and laying dedicated 48 inch diameter Mild Steel Water Pipeline for the Pakistan Textile City Karachi (Rs 637 million).
The main growing industries in 2012-13 would be chemicals, automobile, pharmaceuticals, electronics, leather products, paper and boards, cement and non-metallic minerals.
During 2012-13, Rs 2,049 million are allocated to manufacturing sector including Rs 775 million for industries, Rs 612 million for production and Rs 227 million for Ministry of Textile.
Major manufacturing projects to be carried out include establishment of Chromite Beneficiation Plant at Muslim Bagh, district Killa Saifullah, Balochistan (Rs 104 million), Woman Business Development Centre, Karachi (Rs 59 million), Red Chilies Processing Centre, Sindh (Rs 256 million), Water Supply Scheme for Hub Industrial Estate phase-II (Rs 247 million), Meat Processing and Butchers Training Centre, Multan (Rs 265 million), establishment of Castor Oil Extraction Plant at Uthal district Lasbela (Rs 300 million). app