AIRLINK 69.92 Increased By ▲ 4.72 (7.24%)
BOP 5.46 Decreased By ▼ -0.11 (-1.97%)
CNERGY 4.50 Decreased By ▼ -0.06 (-1.32%)
DFML 25.71 Increased By ▲ 1.19 (4.85%)
DGKC 69.85 Decreased By ▼ -0.11 (-0.16%)
FCCL 20.02 Decreased By ▼ -0.28 (-1.38%)
FFBL 30.69 Increased By ▲ 1.58 (5.43%)
FFL 9.75 Decreased By ▼ -0.08 (-0.81%)
GGL 10.12 Increased By ▲ 0.11 (1.1%)
HBL 114.90 Increased By ▲ 0.65 (0.57%)
HUBC 132.10 Increased By ▲ 3.00 (2.32%)
HUMNL 6.73 Increased By ▲ 0.02 (0.3%)
KEL 4.44 No Change ▼ 0.00 (0%)
KOSM 4.93 Increased By ▲ 0.04 (0.82%)
MLCF 36.45 Decreased By ▼ -0.55 (-1.49%)
OGDC 133.90 Increased By ▲ 1.60 (1.21%)
PAEL 22.50 Decreased By ▼ -0.04 (-0.18%)
PIAA 25.39 Decreased By ▼ -0.50 (-1.93%)
PIBTL 6.61 Increased By ▲ 0.01 (0.15%)
PPL 113.20 Increased By ▲ 0.35 (0.31%)
PRL 30.12 Increased By ▲ 0.71 (2.41%)
PTC 14.70 Decreased By ▼ -0.54 (-3.54%)
SEARL 57.55 Increased By ▲ 0.52 (0.91%)
SNGP 66.60 Increased By ▲ 0.15 (0.23%)
SSGC 10.99 Increased By ▲ 0.01 (0.09%)
TELE 8.77 Decreased By ▼ -0.03 (-0.34%)
TPLP 11.51 Decreased By ▼ -0.19 (-1.62%)
TRG 68.61 Decreased By ▼ -0.01 (-0.01%)
UNITY 23.47 Increased By ▲ 0.07 (0.3%)
WTL 1.34 Decreased By ▼ -0.04 (-2.9%)
BR100 7,394 Increased By 99.2 (1.36%)
BR30 24,121 Increased By 266.7 (1.12%)
KSE100 70,910 Increased By 619.8 (0.88%)
KSE30 23,377 Increased By 205.6 (0.89%)
Business & Finance

Textile Exporter Sadaqat Ltd to invest 8 Billion in Vertical Operations

  • Sadaqat Ltd, plans to invest 8 Billion in its vertical operations, boosting the export potential of Pakistan's textile sector.
Published December 17, 2020

Sadaqat Ltd, plans to invest 8 Billion in its vertical operations, boosting the export potential of Pakistan's textile sector. The Pakistani textile exporter also hopes to works in close liaison with international brands in the home and apparel segments.

Mr. Khurram Mukhtar, CEO of Sadaqat Ltd and Patron in Chief of Pakistan Textile Exporters Association (PTEA) spoke with BBC Urdu about the potential of Pakistan's textile sector and shared his views on future growth of industry especially during the COVID-19 pandemic.

According to Mr. Khurrum Mukhtar, textile manufacturing and exports have witnessed tremendous growth despite the COVID-19 pandemic. Textile exports increased by US$ 4.5 billion during the first quarter of the current financial year.

He also explained that COVID-19 caused a lot of uncertainty in the textile sector, especially at the beginning of the pandemic when a lot of orders were cancelled or deferred. The company also suffered revenue losses of 50% during the first three month of the pandemic.

In addition to this, the pandemic also impacted the company's retail operations due closure of retail outlets and reduction in work hours. However, Sadaqat Ltd. has been able to support its overseas customers during this time to ensure export orders.

Mr. Khurrum Mukhtar also comments that the company has been able to overcome the COVID-19 challenges and is now operating at full capacity.

The textile sector is one of the largest exporting sector in Pakistan. It also provides employment to more than 40% of the country's labor force. However, confidence in Pakistani textile exporters has improved during the pandemic, as the industry has worked tirelessly to meet its delivery commitments on time despite serious supply chain challenges.

Comments

Comments are closed.