LAHORE: Federal Secretary of Commerce Younus Dagha has said that high cost of doing business, issues of market access and exchange rate are hindering the Pakistan exports growth but the government has been working to resolve these problems.
He was addressing the launching ceremony of International Apparel Federation (IAF) membership in Pakistan held here at PRGMEA regional office on Friday.
He said that the local currency has already been devalued by around 10 per cent to maintain the exchange rate so that export should be enhanced. The commerce secretary stated that the government has been working on the five-year Strategic Trade Framework, according which branding, gender equality and promotion of SMEs to achieve exports target.
He said the extension given by the European Union over GSP Plus Status has helped increase exports of value-added textile goods by up to 90 per cent, leading to exports growth by 13 per cent during July-Feb.
Dagha said that the PM package in the shape of Duty Drawback on Taxes (DDT) for the exporters has also helped growth of textile exports. The secretary appreciated the role of PRGMEA, saying the government has identified textile as a key priority area and is striving to set the right policies and incentives that encourages private sector investment in value addition. He assured the members of PRGMEA of resolving all issues at the earliest.
PRGMEA Senior Vice Chairman Sheikh Luqman Amin, while presenting his welcome address to the commerce secretary, appreciated the extension of the GSP Plus Scheme for another two years.”We have succeeded in reaching this landmark simply due to the serious efforts of Ministry of Commerce and Textile and Mohammad Younus Dagha, Federal Secretary for Commerce.
He said that the renewal of GSP plus status is a golden opportunity which our exporters could exploit. On this occasion, he recommended that export emergency should be declared in the country to control the decline in the export sector.
Regarding extreme cash flow crunch Sheikh Luqman observed that the government has given assurance to clear all pending claims, but the factual position is that more and more refund claims are piling up. The government should announce a clear policy to finally clear all the pending refund claims, he demanded.
