Govt working on policies to boost exports

Published: December 6, 2018


FAISALABAD: The government is formulating export-oriented policies to ensure a surge in shipments to overseas markets, announced Textile Division Secretary Syed Iftikhar Hussain Babar.

Speaking to members of the Pakistan Textile Exporters Association (PTEA) on Wednesday, Babar said the government believes that economic revolution could only be possible through trade promotion and all possible support to exporting industries was being extended to achieve optimum growth.

He emphasised that the government was committed to providing all possible facilities to the textile sector as it was playing a major role in bringing economic stability, adding that no country could achieve economic targets without due role of exporters. “Energy tariffs for export industries are being subsidised to help them gain competitive edge in the international market,” he remarked.

The secretary informed businessmen that the Textile Division was working on reducing regulatory duties on inputs in a bid to cut down production cost of export goods and efforts were under way to release the pending tax refund claims of exporters.

He pointed out that all resources were being mobilised to transform the country as per the prime minister’s vision of an economically stable Pakistan.

He assured the textile association that interests of the export-oriented industry would be safeguarded as Pakistan could not make sound progress without turning around its sagging economy.

Speaking on the occasion, PTEA Chairman Khurram Mukhtar appreciated the government for fulfilling its commitment to the textile industry by subsidising energy prices for the export-oriented sectors.

Pinning high hopes, he said the government would adopt business-friendly policies and bring economic reforms to boost the trade and industry.

Highlighting the major impediments in the way of textile export growth, he said a huge amount was stuck in tax refund claims. “Payment of outstanding refunds will enhance the confidence level of exporters,” Mukhtar added.

He suggested launching a comprehensive media campaign at the international level to portray the soft image of Pakistan through the Export Development Fund. Terming the high cost of production a major challenge for the export-oriented textile industry, he said customs duty on raw material, especially cotton imports, had eroded the competitive edge of textile exporters in the international market.

Published in The Express Tribune, December 6th, 2018.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

Facebook Conversations

More in Business