Pakistan’s textile exports grow amid severe economic crunch. A look at reasons for this upturn
Amid much uncertainty in the times of pandemic, there is finally something to celebrate. The encouraging development is that while the national economy is under pressure on the whole, a few sectors have shown promise and registered significant growth over the recent months. This is no ordinary news keeping in view that Pakistan’s economy recently contracted for the first time in decades and its growth forecast for the following years is dismally low.
Among the few sectors that have done well recently, is the textiles, the backbone of economy and contributor of around 65 per cent to Pakistan’s exports. It is heartening to note that most textiles mills are running at full capacity to cater to the needs of the local as well as international markets and more orders are pouring in. Here one can recall the statement of Prime Minister Imran Khan about the unmet demand of hundreds of thousa
This is the first time Pakistan has not received a bid since it entered the spot market five years ago. Dawn/File
ISLAMABAD: In a major setback to gas-starved consumers, Pakistan could not get even a single bid for three LNG (liquefied natural gas) cargoes meant for the first half of January and attracted the highest price for the second half of the month mainly because of delayed tenders amid rising international prices.
Pakistan LNG Limited (PLL) had issued tenders for six cargoes for delivery between Jan 8 and Feb 1. In response, no supplier or trader bid for the first three slots between Jan 8 and Jan 18. This is the first time that the country did not get a bid since it entered the spot market five years ago.