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Pakistan: PRGMEA recommends export emergency to control decline

Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA), has urged Prime Minister Imran Khan to declare ‘export emergency’ in the country to control the decline in export sector. Pakistan’s current account deficit surged over 40 per cent in fiscal year 2018-19 to $18 billion. Low export is a major reason for the growing trade deficit, with the prime minister forming committees to address the deficiency. Value-added textile exporters want the federal government to formulate separate policies for various sub-sectors of the textile industry in order to resolve their sector-specific issues and problems.

As per Sheikh Luqman Amin, Senior Vice-Chairman, PRGMEA, different sub-sectors of the country’s textile industry cannot be treated equally due to their varying needs and requirements. Hence, the new government and textile ministry should formulate separate policies for the value-added and other sub-sectors of the industry in order to facilitate improved production and export.

Amin believes value-added textile exporters are facing a severe problem in meeting the export orders due to multiple reasons. These include: seeking the attention of the government on issues of ease of doing business; cost of doing business, one window operation, minimum interference of bureaucracy and formulation of a counsel of all stakeholders to resolve the issues of exporters. He stressed on the need for early clearance of outstanding refund cases.

 

 
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