Widening import-export gap biggest challenge, PHMA chief tells trade officers

FAISALABAD: Chair-man Pakistan Hosiery Manufacturers and Exporters Association (PHMA), Mian Kashif Zia while addressing a delegation of trade and investment officers, said that the widening gap between imports and exports is the biggest challenge for trade and investment officers. This can only be filled through close liaison and joint efforts with the stakeholders of the aided textile sector.

He said trade and investment officers serving as ambassadors to more than 50 friendly countries could play a significant role in boosting exports. He said that it was important for these officers to be in constant touch with the members of PHMA and hold monthly online meetings so that the joint efforts could help in increasing the exports of their country to the respective countries.

He said that we should reduce our dependence on foreign loans and increase value added textile exports, in order to earn valuable foreign exchange for the country; as countries which are economically strong are not only prosperous internally but they are also viewed with respect in the international community.

He said that the Ministry of Commerce should set targets for trade and investment officers and those officers who meet the annual export target in the respective country should be given special incentives so that Pakistan’s exports could be easily increased.

Mian Kashif said that the knitwear garments sector is not only a leader in the textile group but also provides employment to most of the people. He said that exports of knitwear in the textile group reached 3.8 billion dollars in 2020-21 and 4.2 billion dollars in 2021-22 (ten months) with an increase of 35 percent. Textile exports topped the list with exports of 15.4 billion dollars in 2020-21, while exports in 2021-22 (ten months) increased to 15.98 billion.

Mian Naeem Ahmed, former Chairman PHMA (North Zone), citing the example of Bangladesh, said that despite the fact that cotton production is not in the country, its exports have reached 45 billion dollars while Bangladesh’s target by 2023 is 80 billion dollars. 80 percent of which is in the textile sector.

He said that the main problem of our country is lack of consistency in policies. He said the textile sector is the backbone of our economy, which not only earns a lot of foreign exchange for the country but also provides employment to millions of people. Therefore, whatever the regime, the focus of our rulers should be on increasing exports.

Syed Zia Alamdar Hussain Former President Faisalabad Chamber of Commerce and Industry said that we should be allowed to import yarn from India through Wagah border which would not only make yarn available at cheaper prices but also reach our factories in less time.

Addressing the on the occasion, Commercial Counsellor of Afghanistan said that if coal was brought into the country through NLC containers, its price could be reduced from Rs53/Kg to about Rs35.

On behalf of the delegation of trade officers, Qamar Zaman thanked the PHMA members and said that the newly appointed trade officers would play a key role in exploring new markets and increasing exports. And will be in constant touch with all trade associations.

Mian Kashif Zia thanked the members of the delegation and expressed confidence that all the officers posted abroad would ensure the utilisation of all opportunities for trade and investment during their deployment abroad.

Copyright Business Recorder, 2022