Staff Reporter Lahore
Vice Chairman Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Adeeb Iqbal has called for steps to promote industrialization and enhance exports in its budget proposals for 2021-22.
He urged the government to make the next budget business-friendly, lower cost of production, allow early refunds and relax import policy for industrial raw material.
Adeeb Iqbal said the GSP Plus status is a golden opportunity, which exporters could exploit to meet the export target.
The value-added textile sector has been the main driver of the economy for the last 50 years in terms of foreign currency earnings and jobs creation.
In its budget recommendations, PRGMEA sought revival of statutory regulatory order (SRO) 1125 in its true shape, reintroducing the system of no payment no refund of sales tax for the five export-oriented sectors of textile, leather, carpets, surgical goods.