Textile exporters of Pakistan have urged the Federal government for a comprehensive textile package to facilitate the domestic industry and attract more investment in the sector.
According to Shabir Ahmed, Patron-in-chief Pakistan Bedwear Exporters Association, Detailing the recent moves on the part of the Indian government, he said that recently Indian government approved Rs 60 billion special package for textiles & apparel sector to create 10 million new jobs in three years. As per estimates, Indian textile package will attract investments of $11 billion, besides generating $30 billion in exports. In addition, these measures also include additional incentives for duty drawback scheme for garments, flexibility in labour laws to increase productivity as well as tax and production incentives for job creation in garment manufacturing, he informed.
Ahmed was of the view that India had taken this step to facilitate the domestic industry and attract more investment in the textile sector, as over the last few years, the Indian apparel manufacturing had shifted to countries like China which had cost advantages. He said that India had already advantages of economies of scale and Pakistan was facing a tough competition in the world market.
Indian officials are confident that they will overtake Vietnam and Bangladesh in garment exports within next three years if the package is properly implemented.