New officers briefed on trade, industry dynamics

Civil servants explore textile sector’s role in national economy

KARACHI:

As part of the 31st specialised training programme (STP), the newly inducted civil service officers of the Commerce and Trade Group, Ministry of Commerce, visited the headquarters of the Pakistan Textile Council (PTC) in Islamabad.

The session provided the civil servants with an in-depth understanding of Pakistan’s largest export sector and its significance for the national economy. Officers were briefed on the structure of textile and apparel value chain, its share in overall exports of Pakistan and in the gross domestic product (GDP). The challenges being faced by the industry, and the policy support required to enhance exports of Pakistan, were also shared with the officers.

Delivering a comprehensive presentation, PTC CEO Muhammad H Shafqaat highlighted the vital contribution of the textile and apparel sector to Pakistan’s economic growth and exports.
He informed them about the key challenges, including the high cost of doing business and policy uncertainty as well as opportunities and challenges arising out of the EU Green Deal for the future of Pakistan’s trade with the European Union, the country’s largest trading partner.

He underscored the importance of adopting regionally competitive energy, tax, wage, and interest rate policies to compete well with regional economies like Bangladesh, Vietnam, China and India, especially in the wake of reciprocal tariffs imposed by the US.

The minister of commerce, while commenting on the visit, shared that such exercises are crucial for preparing future policymakers to better understand the realities of industry, ensuring that Pakistan’s trade policies are responsive to both domestic challenges and evolving global market dynamics.
He stated that “engaging with the private sector during training is critical for our newly inducted civil servants. Such visits ensure that officers understand the real challenges faced by the industry.”