Chief Coordinator Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Ijaz A. Khokhar has urged upon the government to ensure maximum representation of SMEs in Textile Committee for formulation of new five years textile policy.
Talking to Business Recorder on Friday he said that Sialkot had become fourth largest producer of readymade garments and sportswear, particularly in Martial Arts Uniforms but denied from the representation in textile committee. Ijaz said that special incentive announced in the previous textile policy were not provided to the business community for the promotion of value-addition of textile sector.
We request the Prime Minister to look into the matter and to make sure the representation of SMEs enabling them to play their instrumental role in formulation of new five year textile policy he added. Ijaz said that the exports of the value-added garment sector grew 11.22 percent in 2017-18 despite internal and external challenges. The sector is a major taxpayer, the largest employment generator in the entire textile chain and exports up to US 5.5 billion dollars he disclosed.
PRGMEA Coordinator urged upon the government to take immediate steps for discouraging the export of raw material and encourage export value-added products. State Bank of Pakistan should facilitate value-added textile exporters by allowing and giving direction to the authorized dealers to make import advance payments against Irrevocable letters of Credit (LA/C) up to 100 percent of value of the goods and up to 10,000 dollars per invoice for the import of all eligible items without the requirement of L/C or bank guarantee from the supplier abroad he added. Ijaz further stated that government should announce a clear policy for the clearance of all pending refund claims of exporters
He said China-Pakistan Economic Corridor (CPEC) is mega project which had opened not only fundamentals of industrial cooperation between the two friendly counties but also had paved the way for new vistas of economic stability, industrial growth and development in Pakistan.
The Coordinator suggested that government should constitute a Special Committee on CPEC with the concerned Associations for taking care of the domestic industry and investors.
Ijaz said that PRGMEA was committed to increase exports of value added garments sector but we need a level playing field at par with our regional competitors adding that we will be able to compete in international market and garment export could fetch US 6 billion dollars in one year and 20 percent more in each financial year.
The Chief Coordinator suggested Prime Minister should take ownership of Export and hold quarterly meeting with the stakeholders, implications of export and import policies and announce special incentives for SMEs. The SME sector which is 95 percent of the industry playing key role in strengthening national economy and providing large scale employment to the workers across the country he added.
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