Faisalabad Industrial Estate Development and Management Company (FIEDMC) Chairman Muhammad Latif has welcomed the new Trade Policy and urged its implementation to achieve the export targets. Talking to newsmen here on Friday, he said "Faisalabad alone has the potential to achieve the 17 billion dollars export target, provided necessary incentives are given for the upgradation and modernisation of the value addition sector."
He said exports could be easily increased up to 40 billion dollars within the next 10 years, and suggested provision of two million dollar per annum on previous mark up rate of 7 percent for the upgradation of processing and garment industry.
"The export base is being broadened with government encouragement, particularly in upcountry areas," he observed, adding that the textile units of Faisalabad should be given direct and safe passage to the seaport for expeditious exports. In this connection, he demanded an immediate construction of the M-4 and M-5 sections of the Motorway.
He also appreciated the zero rating of sales tax on textile exports, and said this would also help in increasing exports.
Meanwhile, Pakistan Textile Exporters Association (PTEA) chairman Faiq Jawed also appreciated the Rapid Export Growth Strategy (REGS) and said it is a well-timed initiative which will give a quantum jump to our exports.
He also lauded the proposals in the new trade policy for the diversification of exports. He said that setting up of a Garment City in Faisalabad will also help in achieving the export target.
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