Earlier this week, the Pakistan Hosiery Manufacturers and Exporters Association (PHMA) and other stakeholders of the textile sector have asked the government to announce an immediate ban on the export of cotton yarn or fix an export quota to limit its shipments in the face of the commodity’s shortage in the domestic market. PHMA also called on the government to eliminate all duties and taxes on importing industrial raw material, which was not manufactured in the country.
Responding to the call of PHMA, Asad Umar, the Federal Minister for Planning Development & Special Initiatives, assured for a Forensic Audit of the yarn shortage would be conducted on the complaints. Addressing a meeting at PHMA Office, the Federal Minister said that the prudent policies of the PTI government resulted in a visible increase in the textile export sector. In Pakistan, the government successfully controlled the pandemic and saved the workers’ employment by keeping the industrial wheel in progress.
He appreciated the PHMA members for a 35% increase in hosiery, value-added, and garments sector export. He added that it played a major role in revenue generation and foreign exchange earning. He said that Pakistan was the only country that overcame COVID with the government’s best strategy, which remained at the top three positions in the index of the international magazine.
The Federal Minister acknowledged that PHMA had played an important role in increasing the revenue of Pakistan and called the Pakistan Hosiery Manufacturers & Exporters Association the largest association in Pakistan. He said that in the problematic situation of COVID, PHMA supported us and increased our exports. He said that the current new wave of COVID is also a challenge, and he hopes that we will overcome it quickly, God willing.
