Home Textile 13pc growth in exports, credit goes to the GSP Plus extension

13pc growth in exports, credit goes to the GSP Plus extension

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The European Union’s extension in the GSP-Plus status (Generalized System of Preferences) to Pakistan has resulted in increasing the exports of value-added textile goods by up to 90%, leading to exports growth by 13% during last eight months.

Addressing the launching ceremony of International Apparel Federation (IAF) membership in Pakistan held at regional office of Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA), Federal Commerce Secretary Younus Dhaga said the PM package in the shape of Duty Drawback on Taxes (DDT) for the exporters had also helped growth of textile exports. He added that government was working on five-year Strategic Trade Framework, according which branding, gender equality and promotion of SMEs (Small and Medium Enterprises) to achieve exports target.

Appreciating PRGMEA’s role, he said the government had identified textile as a key priority area and was striving to set the right policies and incentives that encouraged the private sector investment in value-addition. He assured the members of PRGMEA of resolving all their issues at the earliest.

While in his initial speech the PRGMEA Senior Vice Chairman Sheikh Luqman Amin treasured the extension in the GSP-Plus. He said that “We have succeeded in reaching this landmark simply due to serious efforts of Ministry of Commerce and Textile. Renewal of GSP-Plus status is a golden opportunity for us to enhance our exports.” While he also stressed on the need for formulating a clear policy in this regard, at the same time he called for ease of business to jack up country’s industry to a much competitive level.