PIAF calls for early implementation of PM package

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LAHORE: The Pakistan Industrial and Traders Associations Front (PIAF) Chairman Irfan Iqbal Sheikh has called for implementing the Prime Minister Export Enhancement Package in its true spirit apart from initiating steps, such as providing uninterrupted energy supply to the industry to make Pakistan exports competitive in the international market.

Chairman PIAF stressed on the need for evolving an export-led policy and availability of energy at regionally competitive prices for an economic turnaround. In a joint statement with senior vice chairman Tanveer Sufi and vice chairman Shahzeb Akram, Irfan Iqbal said that much-awaited export package, approved recently by the ECC to steer the exporting industry out of the crisis, is not being implemented by the government while the crisis is worsening day-by-day.

He urged the PM to come to the rescue this vital sector of the economy and get the relief package implemented in its true spirit, as only then the exports of the country could be sustained. He further added that capacity of the industry was mostly un-utilised while overhead costs have increased, compelling the export sectors’ factories to think of alternatives.

Irfan Iqbal Sheikh stated that the textiles in general and the value-added apparel sector, in particular, were becoming uncompetitive in the international market. That is why export of our textile is continuously on the decline for the last few years while that of our competing countries like Bangladesh, India, China and Vietnam is on the rise, he said.