The United States’ recent imposition of hefty tariffs on Indian textiles has created a rare opportunity for Pakistan’s textile sector to expand its presence in the American market, according to Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI). Sheikh believes that, with India’s $16 billion in textile exports to the US now facing significant barriers, Pakistan has a unique chance to capture a larger share of the lucrative market.
He emphasized that Pakistan can only benefit from this opening if all stakeholders work together under a well-coordinated policy framework. Sheikh noted that global market dynamics are offering Pakistan an opportunity that arises perhaps once in a decade, and decisive action is crucial to capitalize on it.
Sheikh called for the immediate restoration of access to the Export Finance Scheme and reduction in the cost of doing business. He acknowledged the government’s new industrial policy as a positive step, but stressed that lowering energy prices for the industry is essential for competitiveness.
Long-term policy measures are needed, Sheikh added, to ensure the textile industry can capture a greater share of the global market. He concluded by stating that a sustainable solution to Pakistan’s economic challenges lies in significantly boosting exports, and this is a critical moment for the country to act.
