LAHORE: The All Pakistan Textile Mills Association (APTMA) management has lauded government’s efforts to revive the export sector through the introduction of the revised export package and termed it as a step in the right direction.
The management has appreciated the efforts of Prime Minister Shahid Khaqan Abbasi as well as of Federal Finance Minister Ishaq Dar, Federal Commerce & Textile Minister Pervaiz Malik, and Advisor to Prime Minister for Finance Miftah Ismail and for Revenue Haroon Akhtar in amending the export package to help revive the shrinking export sector of the country.
Under the revised export package, the ECC of the cabinet approved 50 percent of the incentive will be offered to eligible textile and non-textile exporters on the same terms as given for the period Jan to June 2017 without the condition of 10 percent increase in shipments. The remaining 50 percent of the incentive will be provided if an exporter achieves an increase of 10 percent or more in shipments compared to the corresponding period of previous year.
The APTMA management has appreciated the efforts of PM Abbasi in promptly addressing the issue of escalating trade deficit by announcing an amendment in the export-led growth package.
The APTMA has always been focussed on boosting exports instead of excessive and repeated borrowing to discharge liabilities.
The APTMA management is of the view that the revival of the exports sector is not only crucial but that it represents a challenge for the government since it requires the revival of $4 billion closed production capacity and materializing $15 billion additional potential of converting yarn and fabrics into garments and other value-added products.
“Only an enabling environment can attract prospective investors to undertake new investment initiatives by the textile industry,” he highlighted.
The management hopes that the Pakistan’s exports would be able to regain their lost position in the international market with the early availability of regionally competitive energy price, liquidation of pending sales tax refunds and a fast-track implementation of the export growth package.
The APTMA senior management stated that it will present its viewpoint to PM Abbasi on issues concerning the restoration of viability and further investment to increase production, employment and exports.
