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According to the Economic complexity index, Pakistan is the 67th largest export economy in the world and the 106th most complex economy. [10] During the fiscal year 2015–16, Pakistan's exports stood at US$20.81 billion and imports at US$44.76 billion, resulting in a negative trade balance of US$23.96 billion.
The All Pakistan Textile Mills Association (APTMA) is an association for Textile industry in Pakistan.APTMA represents over 400 textile mills in Pakistan. [2]The textile industry is Pakistan's largest industry and textile is the most important export of Pakistan. [3]
Nishat Chunian Limited (Urdu: نشاط چونیاں) is a Pakistani vertically integrated textile company based in Lahore. [2] It is listed on the Pakistan Stock Exchange and is one of the largest textile company of Pakistan. [3] Nishat Chunian also operates The Linen Company retail stores located in Lahore, Karachi, and Islamabad. [4]
Nishat Mills Limited was founded in 1951 by Mian Muhammad Yahya, Mian Hameed, Mian Rafiq, and Mian Ayub. [6] The name "Nishat" was pre-assigned to the textile license they acquired and was not chosen by the founders. [6] In 1995, Raza Textiles merged with its sister company, Umer Fabrics, which was later merged into Nishat Mills in 2004. [7]
Textile exports were recorded at $11.625 billion in 2014-2015. In 2015-2016, this number had dropped 7.7% to $10.395 billion. [10] The Pakistan Textile Exporters Association recently requested the government to take significant measures to ensure the growth of textile exports and sustain the employment provided by the sector.
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Political instability in East Pakistan led the family to move to Karachi in 1970, where they acquired the Sapphire Textile Mill in Kotri, Sindh, in 1971, and later used it as the group identity. [4] In 2003, Sapphire made an equity investment of Rs300 million in the unlisted associated company, Sapphire Finishing Mills Limited. [5]
Political instability in East Pakistan led the family to move to Karachi in 1970, where they acquired the Sapphire Textile Mill in Kotri, Sindh, in 1971, and later used it as the group identity. [4] In 2003, Sapphire made an equity investment of Rs300 million in the unlisted associated company, Sapphire Finishing Mills Limited. [5]