The office will be the factoring firm’s second in Pakistan (the other is in Karachi) and is expected to fuel success for exporters in Sialkot supplying to prominent European and U.S. brands.
DS-Concept provides international trade financing for global small and medium-size exporters. Clients can benefit from tailored cash flow solutions that could aid in global growth and receive support for international working capital needs.
“We feel very honored that the exporters of Sialkot, and the regional officials, have expressed their satisfaction of DS-Concept in Sialkot,” managing director of DS-Concept Pakistan, Qaseem Jaffri, said. “DS-Concept will utilize this new location at its optimum level and we intend to serve each and every exporter to further contribute to this region’s stellar growth.”
Pakistan’s textile industry has been met with challenges in recent months as costs continue to rise and a Gas Infrastructure Development tax weighs on exporters, but its output has still been enough to pull market share from neighboring nations like India. Pakistan exported 4.56 billion euro worth of textiles to the EU in 2015, a nearly 20 percent increase over the previous year thanks in part to the EU’s affording Generalized System of Preferences (GSP) Plus trade states. Pakistan’s textile and apparel exports to the U.S. in the same period totaled $3.03 billion and were flat to slightly down compared to 2014.
The company—headquartered in Germany—has a network of offices worldwide, including in the U.S., Bulgaria, Hungary, Turkey, Bangladesh, Spain, the UK, China and the United Arab Emirates.