Package for textile sector

EVER since assuming the charge of Ministry of Commerce and Textile, Federal Minister Pervaiz Malik actively engaged business community especially those related to textile sector with the aim to give a much needed impetus to the country’s exports- something that is vital to address country’s economic woes. Talking to the media persons on the occasion of inaugurating the office of All Pakistan Textile Mills Association (APTMA) in federal capital, Pervaiz Malik announced that an incentive package would soon be announced for the sector to boost the tumbling exports.
Given the importance of textile sector which has an overwhelming impact on the economy and contributes almost sixty percent to the exports, textile industry indeed deserves more incentives than any other sector and we expect that the package will be formulated after consultations with relevant stakeholders while keeping in mind their genuine demands such as provision of subsidised power. Regional competitors such as Bangladesh, India, and China fully back the industry with a whole lot of incentives, which has given them the edge to multiply their exports. While in case of Pakistan, several factors are impeding the growth of our industry and thereby it is losing its share in the world trade. In today’s highly competitive global environment, textile sector needs to upgrade its supply chain, improve productivity and maximise value addition to survive. This is only possible if the sector is provided with congenial environment and full support to meet these challenges and attain global competitiveness. Quite recently, we had seen the APTMA protesting against non-implementation of Rs180 billion package announced by former prime minister Nawaz Sharif for the exporters. Present government had also set the target of $35 billion in exports but today these have gone down to $19 billion. We understand the situation would have been different if right kind of interventions were made at the very beginning. Anyway we will urge the government to fulfil its commitments made with the exporters and work out the textile package while keeping an eye on long-term development of the industry.

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