AIRLINK 81.10 Increased By ▲ 2.55 (3.25%)
BOP 4.82 Increased By ▲ 0.05 (1.05%)
CNERGY 4.09 Decreased By ▼ -0.07 (-1.68%)
DFML 37.98 Decreased By ▼ -1.31 (-3.33%)
DGKC 93.00 Decreased By ▼ -2.65 (-2.77%)
FCCL 23.84 Decreased By ▼ -0.32 (-1.32%)
FFBL 32.00 Decreased By ▼ -0.77 (-2.35%)
FFL 9.24 Decreased By ▼ -0.13 (-1.39%)
GGL 10.06 Decreased By ▼ -0.09 (-0.89%)
HASCOL 6.65 Increased By ▲ 0.11 (1.68%)
HBL 113.00 Increased By ▲ 3.50 (3.2%)
HUBC 145.70 Increased By ▲ 0.69 (0.48%)
HUMNL 10.54 Decreased By ▼ -0.19 (-1.77%)
KEL 4.62 Decreased By ▼ -0.11 (-2.33%)
KOSM 4.12 Decreased By ▼ -0.14 (-3.29%)
MLCF 38.25 Decreased By ▼ -1.15 (-2.92%)
OGDC 131.70 Increased By ▲ 2.45 (1.9%)
PAEL 24.89 Decreased By ▼ -0.98 (-3.79%)
PIBTL 6.25 Decreased By ▼ -0.09 (-1.42%)
PPL 120.00 Decreased By ▼ -2.70 (-2.2%)
PRL 23.90 Decreased By ▼ -0.45 (-1.85%)
PTC 12.10 Decreased By ▼ -0.89 (-6.85%)
SEARL 59.95 Decreased By ▼ -1.23 (-2.01%)
SNGP 65.50 Increased By ▲ 0.30 (0.46%)
SSGC 10.15 Increased By ▲ 0.26 (2.63%)
TELE 7.85 Decreased By ▼ -0.01 (-0.13%)
TPLP 9.87 Increased By ▲ 0.02 (0.2%)
TRG 64.45 Decreased By ▼ -0.05 (-0.08%)
UNITY 26.90 Decreased By ▼ -0.09 (-0.33%)
WTL 1.33 Increased By ▲ 0.01 (0.76%)
BR100 8,052 Increased By 75.9 (0.95%)
BR30 25,581 Decreased By -21.4 (-0.08%)
KSE100 76,707 Increased By 498.6 (0.65%)
KSE30 24,698 Increased By 260.2 (1.06%)

LAHORE: Chairman Pakistan Footwear Manufacturers Association (PFMA) Zahid Hussain has said that it is due to sustained growth that Pakistan’s shoes export is on the higher side and this stability in the sector is a welcome sign, mainly due to the effective and dynamic trade policy for which the government lent a commendable support.

Chairman PFMA Zahid Hussain said this while addressing a press briefing at a local hotel on Monday.

“The govt decision to impose a ban on the import of imported goods is a wise and right decision. We call upon the government to sustain this ban for at least five years so that the industry could grow and exports could be increased,” he said, adding that this measure will also lead to creation of 25,000 jobs for engineers, diploma, degree holders and skilled workers.

Zahid Hussain said that this would lead to the 100 percent local shoes manufacturing during the next five years. “We had set the shoes export target of $1 billion for the year 2027, but hopefully, we shall achieve this target by 2026,” he said, adding the component and shoes-making production had increased to 20 percent and crossed the exports target of $180 million.

He said that the PFMA is the part of the government strategy for cluster development, which will also augment shoe manufacturing sector to become the number in the region besides competing Brazil, Vietnam and China.

“We shall focus on the capacity development with the help of TEVETA to enhance our productivity,” he said, and added that the government should grant concession in the taxes.

The footwear industry is facing some challenges which need attention of the key policy-makers for immediate resolution. Some of the most important ones are the resumption of extension in drawback of local taxes and levies (DLTL) scheme for three years at least to enable the industry to position itself in the international market and waiving off ACD and RD on all the raw materials for footwear industry and put them in lowest slab of custom duty to promote “Made in Pakistan Initiative.”

Copyright Business Recorder, 2022

Comments

Comments are closed.