FAISALABAD: Faisalabad Chamber of Commerce and Industry (FCCI) President Muhammad Saeed Sheikh has expressed satisfaction over an increase in textile exports, saying it is the natural outcome of implementation of the textile package.
He suggested that the government should continue to offer the package in addition to extending the period of incentives from July 2017 onwards. Quoting figures of the Pakistan Bureau of Statistics, he said a 14.41% increase was recorded in exports in August 2017 compared to July 2017.
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Similarly, during July-August 2017, exports rose 11.80% compared to the same period of previous year.
“We all know that the textile sector had been facing a deep crisis for the past many years and despite the GSP Plus status, our exports were declining,” said Sheikh, according to a statement. “However, on our persistent demand, the government announced the textile package in order to arrest the decline and revive the sector.”
Initially, he said, the implementation of the package was very slow. However, its positive results were becoming obvious, proving that the decline had been arrested.
The FCCI chief voiced concern that the government had not yet issued a notification for continuing the package beyond July 2017, which was worrying for textile exporters.
He demanded that the government take them on board while making policy decisions as Faisalabad was a major stakeholder in textile exports.
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He also welcomed the establishment of a committee comprising representatives of the Finance and Commerce Divisions as well as the Federal Board of Revenue for reviewing the package and hoped that the government would give due representation to Faisalabad in the committee.
Published in The Express Tribune, September 19th, 2017.
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