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.