KARACHI: Pakistan Hosiery Manufacturers & Exporters Association (PHMA) on Friday welcomed Prime Minister Shehbaz Sharif’s announcement of a comprehensive set of measures aimed at strengthening Pakistan’s industry, trade, and export sectors.
PHMA Central Chairman Muhammad Babar Khan, Chairman (North) Abdul Hameed, and Chairman (South) Faisal Arshad Sheikh, in a joint statement, said the Prime Minister’s address to leading exporters and business leaders at the Prime Minister’s Office in Islamabad reflects a positive and timely recognition of the challenges faced by export-oriented industries.
They particularly welcomed the reduction in the export refinance rate by 300 basis points to 4.5 percent, along with a cut of Rs4.04 per unit in industrial electricity tariffs, terming these steps as much-needed relief for exporters. The PHMA leadership noted that these measures would significantly ease cost pressures on the textile and hosiery sector, which has been grappling with high energy prices, expensive financing, and a severe liquidity crunch amid intense global competition.
However, they stressed that the government must accord top priority to national exports, especially textile exports, to ensure export-led economic growth. They urged the authorities to address the key factors behind the decline in exports, including high production costs, frequent changes in the taxation regime, and the discontinuation of export facilitation schemes.
The PHMA office-bearers said Pakistan’s exporters have shown resilience and efficiency despite difficult circumstances, and the Prime Minister’s acknowledgement of the role played by business leaders and major exporters has helped restore confidence within the industrial community.
They emphasized that a meaningful boost in exports would be possible only if the government accepts PHMA’s long-standing demands.
Copyright Business Recorder, 2026
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