ISLAMABAD: The Ministry of Commerce and Textile has assured the timely payments through Prime Minister “Trade Enhancement Package” of Rs 162 billion to the Textile sector by June 2018 to enhance the country’s exports.
“We had paid Rs 9 billion out of a total of Rs 15 billion for last fiscal in shape of duties drawback to textile sector,” a senior official of the ministry of commerce and textile told APP here on Monday.
The government has accorded priority to the textile sector and helped it to gain competitiveness in order to enhance the country’s exports, he added.
“We want to revive the confidence of the textile sector through the trade enhancement package”, he remarked.
Replying to a question, he said the government had planned to expand coverage areas of the Trade Enhancement Package” to remaining industrial sectors including pharmaceuticals.
“We are committed to providing an enabling environment for the industrial sector,” he said.
The government had also given relaxation on the import of textile machinery for the modernization of industry and to enhance the capacity of the sector.
The official said that through this package cost of doing business would come down in the country.
While talking to APP, All Pakistan Textile Mills Association (APTMA) General Secretary Anis-ul- Haq stressed the need for providing a competitive business environment for textile sector to enhance the country’s trade. He emphasised on structural balance and viability of industry to compete with regional competitors including India, Bangladesh and Vietnam.
APTMA general secretary said that pragmatic and export-led policies were required for industrial growth and enhancing the country’s exports.
