The Economic Coordination Committee (ECC) of the Cabinet here on Thursday approved continuation of the Prime Minister’s Relief Package for the fiscal year 2024-25 through Utility Stores Corporation (USC) with revised price and subsidy.
Federal Minister for Finance and Revenue Muhammad Aurangzeb chaired the cabinet committee meeting, according to press release issued by the finance ministry.
The proposal to continue the package was presented by the Industries & Production Division.
Furthermore, the ECC approved the request of Ministry of Industries & Production to declare Warehousing and Logistic Sector as an industry, it added Among others the meeting was attended by Minister for Industries & Production, Rana Tanveer Hussain; Minister for Commerce, Jam Kamal Khan; Minister for Privatization, Abdul Aleem Khan, Deputy Chairman Planning Commission, Federal Secretaries, and other senior officials of the relevant ministries.
Separately, textile exports reached $1,271.136 million during the first month of the current financial year (2024-25), the Pakistan Bureau of Statistics (PBS) reported on Thursday.
Textile exports showed a decline of 3.09 percent from $1,311.650 million during the same month of last year (July 2023-24). The textile commodities that contributed in trade growth included tents, canvas and tarpaulin the exports of which increased by 14.22 percent to $10.877 million during the July 2024 as compared to the exports of $9.523 million last year July. The other commodities that witnessed growth in trade included readymade garments the exports of which grew by 7.57 percent to $295.522 million from $274.730 million whereas the export of art, silk and synthetic textile rose by 4.12 percent to $27.245 million. The textile commodities that witnessed negative growth in trade included cotton yarn, the exports of which declined by 42.54 percent, from $97.031 million to $55.750 million whereas the export of cotton cloth decreased by 0.56 percent from 140.936 million to 140.148 million. Likewise, the export of yarn other than cotton yarn also dipped by 22.35 percent from 3.292 million to 2.556 million, knitwear also went down by 1.88, from $364.541 million to $357.686 million, bed wear by 1.20 percent, from $216.910 million to $214.305 million and towels by 3.67 percent, from $72.766 million to $70.093 million.
The exports of made up article (excluding towels and bedwear) decreased by 5.84 percent from $51.039 million from $48.057. The exports of all other textile materials decreased by 9.38 percent from $53.956 million to $48.897 million.