Business

Increasing volume: Govt working to resolve issues: Dagha

Commerce secretary says GSP Plus extension will help exporters

Our Correspondent March 31, 2018

Federal Secretary of Commerce Ministry Ministry, Younus Dagha PHOTO: EXPRESS

LAHORE: High cost of doing business and issues of market access and exchange rate are hindering growth of Pakistan’s exports, but the government is working to resolve these problems, said Federal Secretary of Commerce Younus Dagha.

Addressing the launch ceremony of the International Apparel Federation (IAF) membership, he said that the local currency has already been devalued by around 10% to maintain the exchange rate so that exports could be enhanced.

The commerce secretary stated that the government has been working on the five-year Strategic Trade Policy Framework to achieve the export target.

He said the extension given by the European Union for the GSP Plus has helped increase exports of value-added textile goods by up to 90%, leading to growth of 13% during Jul-Feb.

Dagha said that the PM package in the shape of Duty Drawback on Taxes (DDT) for the exporters has also helped growth of textile exports.

He appreciated the role of Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA), saying that the government has identified textile as a key priority area and is striving to set the right policies and incentives that encourage private sector investment in value addition. He assured the members of PRGMEA of resolving all issues at the earliest.

Also speaking on the occasion, PRGMEA Senior Vice Chairperson Sheikh Luqman Amin recommended that export emergency should be declared in the country to arrest the decline in the sector.

Regarding extreme cash flow crunch, Luqman observed that the government had given assurance to clear all pending claims, but the reality is that more and more refund claims are piling up. The government should announce a clear policy to finally clear all the pending refund claims, he demanded.

Published in The Express Tribune, March 31^st, 2018.

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