ISLAMABAD, May 30: Exports of textile products will cross $10 billion mark by June this year mainly due to an increase in value-added textiles that have given a new dimension to the export.

This was disclosed in a special committee meeting on textile presided over by Prime Minister Shaukat Aziz here on Tuesday. It was attended among others by Textile Industry Minister Mushtaq Ali Cheema.

An official announcement said the committee was constituted to develop recommendations to reduce the cost of doing business in textile and clothing sectors.

The country’s total textile export is around three per cent of the current textile trade estimated at $300 billion. However, industry experts predict that by 2014, textile manufacturing facilities in the West will cease totally, forcing them to outsource from efficient areas of the world.

This will result in a textile trade volume that can increase to $800 billion. If the current share of Pakistan is maintained in the larger pie, there is a potential of textile exports worth $24 billion per annum.

The prime minister said the government was taking a number of steps to facilitate the private sector in improving the quality and competitiveness of their products to enhance the volume of textile exports.

Mr Aziz reviewed the proposals submitted by the committee and assured them that the government would make all-out efforts to further develop the textiles sector. He said the textile sector had shown substantial development during the last few years, adding that the growth was largely driven by the continuity of government policies, positive macroeconomic indicators, tariff rationalisation, removal of sales tax on textile chain, deregulation, lower interest rates, increased market access, public-private partnership programmes and creation of a hassle-free environment.

Mr Aziz said the government would continue focusing on bridging the skills gap, promoting researcher and development activities, facilitating increase in the number of women employees, outsourcing specialized work and simplifying procedures.

To facilitate value-addition in the textile sector, world class departments in various disciplines related to the textile industry will be set up in three universities. These departments would have links with corresponding foreign departments of high repute, the prime minister added.

A member of the committee said the textile sector had been witnessing growth for the last six years. Giving details of post-quota textile exports of Pakistan, he said total exports of textile increased from $6,442,879 in 2004-05 to $7,390,735 in 2005-06. He said during the period under review, bedwear exports were up by 58 per cent, readymade garments 31 per cent, fabrics 16 per cent, towels 12 per cent, yarn 11 per cent and knitwear (hosiery) up by four per cent.