Pakistan

Export-oriented sectors likely to get Rs 75 billion package

MUSHTAQ GHUMMAN%D%AISLAMABAD: Prime Minister Nawaz Sharif is likely to announce an incentive package for five or six export-oriented sectors to the tune of Rs 65 -75 billion of which textile sector would be the top beneficiary, a senior government officia

Published November 22, 2016 Updated November 22, 2016 06:33am

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By Madiha Shakeel

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Another official well versed with WTO rules said that the incentives package for export oriented sectors is a clear violation of WTO rules. "Pakistan should shift from textile to other sectors as micro fibre has replaced textile, which Pakistan does not have," he added.

Last year, total exports were $20.8 billion - down from around $25 billion in 2013-14. One of the key reasons for the decline was crashing commodities prices, the Ministry maintains, though Bangladesh's exports increased from $31 billion to $34 billion during this period.

All Pakistan Textile Mills Association (APTMA) and other textile sector are anxiously waiting for the package and using different channels to compel the governmennt make an early announcement Unconfirmed reports suggest that the package would be tabled before the federal cabinet for a formal nod as the Supreme Court's judgement has made it mandatory for the government to seek cabinet approval for all decisions which have financial implications.

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