Textile Exports To Double Within Few Years If Govt Policies Continue: Rector NTUF

Textile exports of Pakistan will double within next few years if export policies of incumbent government continue, said Prof Dr Tanveer Hussain Rector National Textile University Faisalabad (NTUF).

FAISALABAD, (UrduPoint / Pakistan Point News - 17th Jun, 2021 ) :Textile exports of Pakistan will double within next few years if export policies of incumbent government continue, said Prof Dr Tanveer Hussain Rector National Textile University Faisalabad (NTUF).

He was addressing the introduction ceremony of a project "KnowTex" on Thursday which the NTUF has started in collaboration with the Higher education Commission and other institutions.

He said that NTUF has undertaken a gigantic project that will make an increase of USD 1 billion in national exports within 3-5 years. He said that total exports of Pakistan were dwindling on 25 billion Dollars for the last few years while textile exports are contributing their share of 13 billion dollars in it. The government is sincere to increase national exports and for this purpose, it has also announced maximum incentives for textile sector in the current budget, he added.

He said that there have been many positive signals in the export sector since last year and private industrial sector is also striving to invest up to Rs 5 billion to increase its capacity. On the other hand, international conditions are also favorable for exports due to government policies. "If these conditions continue, our textile exports will double from 13 billion Dollar to 26 billion dollars," he added.

He said that NTUF has launched a grand project only to support industrial sector so that it could make production according to expectations of government targets.

In this connection, NED University of Engineering & Technology Karachi and Baluchistan University of Information Technology and Engineering & Management Sciences Quetta is also helping the NTUF for executing the project "KnowTex", he added.

This project has also involved SMEDA (Small & Medium Enterprises Development Authority), TUSDC (Technology Up-gradation & Skill Development Company), All Pakistan Textile Mills Association (APTMA), Pakistan Ready Made Garments Association and Pakistan Textile Exporters Association (PTEA) while 15 major textile industries in addition to 22 researchers groups belong to textile engineering, chemistry, management sciences, agricultural science, computer science, mechanical engineering will also support this project on the various aspect so that Pakistani textile could be improved up to world class standard according to demand of international markets, he added.

He said, "NTUF would play a key role in this project while fruits of this three-year program will start coming from the beginning, as we are working on the products that are in high demand in the domestic as well as international markets."He said that there are some products which are beyond the capacity of the industry or the industry is not able to make them. "Then, the NTUF will provide full technical support to the industry as we have the facility of sampling and testing the products in addition to have the ability to fully guide the industry," he added.