APTMA hails terms of revised export package
Chairman says it will help revive exports, reduce trade deficit
Mobile cranes prepare to stack containers port. PHOTO: REUTERS
LAHORE:
Management at the All Pakistan Textile Mills Association (Aptma) has termed the revised export package by the government a step in the right direction to overcome national trade deficit.
The management appreciated the efforts of the prime minister, finance minister and other senior officials in finalising the amendment in export package.
The Economic Coordination Committee (ECC) of the cabinet has approved the export package in a bid to boost shrinking exports of the country. Under the package, 50% of the incentive will be offered to eligible textile and non-textile exporters on the same terms as given for the period January to June 2017 without the condition of 10% increase in shipments.
Export package termed short-term solution
The remaining 50% of the incentive will be provided if an exporter achieves increase of 10% or more in shipments compared to the corresponding period of previous year.
Lauding the prime minister’s prompt action to address the trade deficit, Aptma management said that it has always been concerned about the issue and believed that the only solution to the problem was reviving exports rather than borrowing more.
Aptma Chairman Aamir Fayyaz said that producing exportable surplus is the need of the hour and a challenge for the government through revival of $4 billion closed production capacity and materialising $15 billion additional potential of converting yarn and fabrics into garments and other value-added products.
“Only an enabling environment can attract prospective investors to undertake new investment initiatives by the textile industry,” he asserted.
Textile sector assured of timely refunds
Fayyaz expressed hope that the industry would regain its position in the international market with early availability of regionally competitive energy price, liquidation of pending sales tax refunds and a fast track implementation of the export growth package.
Published in The Express Tribune, October 10th, 2017.
Management at the All Pakistan Textile Mills Association (Aptma) has termed the revised export package by the government a step in the right direction to overcome national trade deficit.
The management appreciated the efforts of the prime minister, finance minister and other senior officials in finalising the amendment in export package.
The Economic Coordination Committee (ECC) of the cabinet has approved the export package in a bid to boost shrinking exports of the country. Under the package, 50% of the incentive will be offered to eligible textile and non-textile exporters on the same terms as given for the period January to June 2017 without the condition of 10% increase in shipments.
Export package termed short-term solution
The remaining 50% of the incentive will be provided if an exporter achieves increase of 10% or more in shipments compared to the corresponding period of previous year.
Lauding the prime minister’s prompt action to address the trade deficit, Aptma management said that it has always been concerned about the issue and believed that the only solution to the problem was reviving exports rather than borrowing more.
Aptma Chairman Aamir Fayyaz said that producing exportable surplus is the need of the hour and a challenge for the government through revival of $4 billion closed production capacity and materialising $15 billion additional potential of converting yarn and fabrics into garments and other value-added products.
“Only an enabling environment can attract prospective investors to undertake new investment initiatives by the textile industry,” he asserted.
Textile sector assured of timely refunds
Fayyaz expressed hope that the industry would regain its position in the international market with early availability of regionally competitive energy price, liquidation of pending sales tax refunds and a fast track implementation of the export growth package.
Published in The Express Tribune, October 10th, 2017.