According to APTMA (All Pakistan Textile Mills Association), being the textile industry association premier and representing members including corporate sector, manufacturing, textile exports and clothing products, the APTMA members as a whole contribute more than 50 pc to Pakistan’s exports which is more than $11 billion out of a total of $23 billion annual exports of 2017-18.
He further added that the textile industry contains a potential to add another $24 billion to the exports on a fast paced track subject to provision of enabling surroundings and environment.
Additionally, several non-textile related product exports are also officially approved by the hands of APTMA members.
APTMA spokesperson also highlighted that the growing trade deficit can solely be met by fashioning an export led growth policy. Therefore, those advocating for the support of local industry don’t seem to be well-wishers of Pakistan as well as the government, since the restoration of competitive advantage of the export led industry must be regained, the share which has been long lost in the international marketplace. The anti-export approach has already witnessed a decline in Pakistan’s exports to $20 billion from $35 billion in 2016-17.
The local industry can absorb the economic stringencies but the exporting industry which is competing with the international competitors cannot. He has also urged the Govt. to steer the economy out of woods with energetic participation of the industrial associations so as to line the priorities. The export industry associations should be leading the proposed Business Advisory Council in order to encourage new investment and enhance exports. He also mentioned that the Business Advisory Board ought to be chaired by the prime minister on quarterly basis to oversee the decision implementation and for performance reviews.