Qamar ensures level playing field for exports

Federal Minister for Commerce Syed Naveed Qamar, on Wednesday, said that the government was committed to providing a level playing field and reducing the cost of doing business for export-oriented sectors including textiles. This shall help to boost exports and reduce the current account deficit.

He expressed these views while addressing a virtual session organised by the South-Punjab Investment Forum in collaboration with USAID.

“I am glad to inform you that textile exports during FY 2021-22 reached a historical high of $19.3 billion despite the fallout from Covid-19 and severe economic challenges,” said the minister.

He stated that it is time to promote value-added products and that the government will provide incentives for this purpose.

Qamar highlighted the many steps taken by the present government including supplying energy at competitive tariffs, disbursement of Rs42 billion from April to June 2022 to mitigate the prevailing liquidity issues, duty free import of cotton and reduction of custom duties on the import of dyes and chemicals. He added that duty free import of textiles and apparel machinery has also been continued.

The Ministry of Commerce has formulated the Textiles and Apparel Policy 2020-2025, which will address matters including value addition, product diversification, skill development, productivity and ease of doing business, explained Qamar.

“We need to attract investment in the textile and apparel sector to enhance our manufacturing capacities. I would also like to remind you that SMEs across the world are engines of growth for any country,” he added.

He urged the need to encourage “Made in Pakistan” products and said that in the global textile industry, Pakistan has less than 2% share which needs to be enhanced with practical steps.

Published in The Express Tribune, September 15^th, 2022.

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