Textiles and cotton account for nearly 60 percent of Pakistan’s exports and are a major source of foreign exchange for its fragile economy, kept afloat by an $11 billion International Monetary Fund loan secured in 2008.
Pakistan - Textile export earnings to fall $1b
Weak demand and higher output has depressed world cotton prices and will cost Pakistan more than $1 billion in key textile exports for the fiscal year 2011/12, despite an expected bumper crop, industry officials said on Wednesday.
Textiles and cotton account for nearly 60 percent of Pakistan’s exports and are a major source of foreign exchange for its fragile economy, kept afloat by an $11 billion International Monetary Fund loan secured in 2008.
Textiles and cotton account for nearly 60 percent of Pakistan’s exports and are a major source of foreign exchange for its fragile economy, kept afloat by an $11 billion International Monetary Fund loan secured in 2008.
