The Amtex Pvt Limited Chief Executive Officer (CEO) Khuram Iftikhar has said that his company has set an export target of US $250 million. While addressing a road show held here on Tuesday, Iftikhar said that per share price of the Amtex has been fixed at Rs 13 whereas its price under the book value is considerably higher.

He said that he has high hopes regarding Pakistan's economy and the stock market future. Pakistani industrial sector is likely to perform well in the coming days which in turn would help enhance country's exports, he added. The textile sector and value added exports have huge potential, which need to be exploited, he maintained.

On this occasion, the AKD Securities' Chief Executive Farid Alam said that presently, the Amtex has floated 6.1 million shares at the Karachi Stock Exchange while more IPOs would be offered in future.

Following the devaluation of the local currency, Pakistani products are 12-15 percent cheaper as compared to our competitors like India and China, he said. Despite the terrorist activities and unsatisfactory law and order situation, there is huge potential in the textile sector, which contributes 60 percent to the total exports, he added. He was of the view that the exporters' margin is low because they usually target the middlemen rather than the end consumers. If our exporters go for direct sale, the major companies could earn one billion dollars, he added.

Source: Business Recorder