ISLAMABAD, Pakistan: The federal government was striving to develop the national economy by enhancing Country’s exports profile, the Commerce and Textile Minister Muhammad Pervaiz Malik said on Saturday.
“We are searching the emerging markets for increase our export. After signing of Generalize System of Preference (GSP-Plus), Pakistan’s exports increased by 38 percent as of December 2016,” the minister told media after inaugurating the regional office of All Pakistan Textile Mills Association (APTMA) in Islamabad.
The minister said the government was committed for growth of textile sector, and Rs 162 billion Export Enhancement Package announced by government for growth of textile industry was aimed at increasing the textile exports.
Pervaiz Malik said the government had fully supported the value addition and modernization of textile sector for importing machinery. He said in future export enhancement package would be increased particularly for textiles sector.
In his remarks, the APTMA Aamir Fayyaz Sheikh said Pakistan required export-led growth for economic growth and stability of the Country. He said the Country’s export should have been increased to $ 50 billion for an effective economic growth and prosperity of the Country.
The Chairman APTMA said textile industry contributed 60 percent in total exports of the Country which was considered backbone of economy.
Aamir Fayyaz Sheikh emphasized upon competitive business environment to compete with regional competitor for enhancing the Country’s exports.
“We want to compete with the regional competitors including India, Bangladesh, Sri Lanka and Vietnam for enhancing the county’s export to achieve the target of economic stability and growth,” he said.
Aamir said price of energy was an important element of production particularly for spinning, weaving and processing industry. He said availability of energy at regionally competitive price was important.
The Chairman APTMA urged for providing ease of doing business in the Country.
Moreover, he hailed Rs 180 billion “Export enhancement package”, adding the package would give huge relief to the textile sector for enhancing the exports in the sector.
The Chairman APTMA also stressed the need for proper implementation of this package which also gave relaxation on the import of textile machinery for the modernization and enhancing the capacity of the sector.