Updated on
Summary Profit of the textile sector has been increased by three-fold during the first six months of the current financial year due to increase in cotton prices.
According to a report by JS Research, textile sector’s overall selling after an increase of 39 percent remained at Rs 202 billion while the profit recorded an increase of 183 percent. Performance of all sectors including spinning, weaving and composite witnessed excellent growth.Textile sector’s overall profit remained Rs 12 billion. From July to December 2010, textile sector’s exports reached $6.3 billion with an increase of 26 percent. Interest rate also surged to 16 percent due to increase in cotton prices.
