The 2005-06 trade policy has been termed "textile and investment-oriented," by the Pakistan Cloth Merchants Association (PCMA), saying that the export target is achievable. PCMA Central Chairman Jawed Chinoy, in his comments, welcomed the policy, announced by Commerce Minister Humayun Akhtar Khan, and appreciated the plan for the establishment of textile and garment cities in Karachi, Lahore and Faisalabad for the promotion of textile goods' export.
Welcoming the establishment of "Textile Skilled Development Board," he said it would help in training of skilled manpower for the textile sector, adding the appointment of experienced and qualified trade officers and honorary consul generals in Pakistani embassies for aggressive export promotion efforts had also been appreciated.
Market research, especially focused on the exports to the European Union (EU) countries was a very laudable move, he said.
Chinoy also appreciated efforts of the Commerce Minister for obtaining generalised system of preference (GSP) benefits for the EU countries from January 1, 2006, as 80 percent of Pakistani exports would be covered by it.
The steps, proposed for reducing the cost of doing business, improving the quality of export goods, subsidy for encouraging registration of Pakistani export products with their trade mark in foreign countries, development of expertise for specialising in the World Trade Organisation (WTO) matters, establishment of commercial courts and arranging free trade agreements (FTAs) were positive, he said.
The PCMA Chairman said it was heartening to note that the Commerce Minister had announced steps to promote Pakistani textile goods on a sustainable basis so that our industries could compete with other regional players, such as China, India and Bangladesh.
In the end, Jawed Chinoy urged the Federal government to reduce the prices of electricity, gas and petroleum products to reduce the cost of production and to make our exports competitive in the international markets and also to meet the challenge of post quota-free WTO regime.