Business

ISLAMABAD (Web Desk) Minister for Commerce Khurram Dastigir Khan said the country’s textile exports had witnessed the negative growth of 7.72 percent during the first 10 months of the current fiscal year on Wednesday.

According to details, he said that exports during July-April (2015-16) were recorded at $10.395 billion compared to $ 11.265 billion in the last financial year.

He was responding to a calling attention notice moved by Muhammad Atteeq Shaikh in the Senate.

He said the textile products that contributed to the shrinking of the textile trade, included cotton yarn, exports of which dropped by 32 percent from $1.590 billion last year to $1.081 billion this year.

He said cotton production had decreased this year due to the absence of timely rains. 

The cotton clothes export, he said, had increased by 4 percent; however, a decline was reported in the value of cotton products.