Pakistan’s garment industry wants help in increasing the country’s exports to overcome the trade deficit of the country.It’s felt this will ultimately increase the foreign exchange of the country which is the need of the hour.

Exporters want payment of refunds to be expedited. They say exports should not be taxed and that the Export Development Surcharge should be withdrawn. They feel great dividends can be reaped by abolishing this levy.

Pakistan’s textile exports rose 7.2 per cent during the first eight months of the current fiscal year. Other economies like China, India, Bangladesh, Sri Lanka and Vietnam grew their exports at a compound rate of 20 per cent or more during the same period.

Textile exports make up around 60 per cent of the country’s total exports. The textile sector has the largest share in Pakistan’s exports.

Pakistan’s competitors are upping the ante on textile exports to make inroads into more global markets. While China’s share in global textile exports is 36 per cent, Vietnam contributes 12.4 per cent, and Pakistan seven per cent.

Various problems are being faced by the country’s textile sector including the high cost of doing business, multiple taxes and surcharges.

Pakistan predominantly being a textile export economy is struggling to maintain its share in global textile markets both in basic and value added textiles.