In the backdrop of reports about declining trends in exports and the federal government efforts to stem the rout , keep the imports at reasonable level and bring about improvements in various sectors, it is quite good to note that country’s textile exports have started showing upward trend and have registered 7.2 per cent upward growth to 8.79 billion dollars in first eight months of current financial year July 2017 to February 2018.

According to the reports in the newspapers, textile exports, which account for around 60 per cent of the country’s total exports, accounting to 8.21 billion dollars during the corresponding period of the last fiscal year.

During the period under , knitwear exports recorded the highest 13.3 per cent, readymade garments rose by 13.1 per cent, bed wear exports increased by 4.5 per cent, cotton cloth however remained flat so on and so forth.

It is a matter of bitter record that the country’s exports have been showing downward trend during the last four years but exports package of Rs 180 billion announced by the federal government in January 2017 comprising rebates and tax concessions have encouraged the exporters to view for additional shares in the international market for Pakistani goods.

On the other hand, the federal government is also trying to keep the imports at the low level to the maximum level but still essential items like petroleum products , machinery, fertilizer, insecticides, platic material , medicinal products have to be imported in varying quantities to meet the domestic requirements.

To reduce the import of petroleum products, it is essential that efforts should be accelerated for oil exploration and at the same time, motorists should be motivated through officially launched campaign to conserve and ensure they keep the avoidable journeys on the lowest keeping in mind that precious foreign exchange resources of the country are being spent on POL imports outsourcing the exports earnings.

ASIM MUNIR,

Rawalpindi, March 21.