- Sadaqat Ltd, plans to invest 8 Billion in its vertical operations, boosting the export potential of Pakistan's textile sector.
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.