38 C
Lahore
Wednesday, June 19, 2024

Commerce Minister assures textile sector of export facilitation

Federal Commerce Minister Jam Kamal Khan has assured APTMA of facilitating the textile industry in export diversification, saying that measures are being devised to promote export-oriented industries in the country.

He was speaking  to the export-oriented textile industrialists during his visit to APTMA Lahore office on Tuesday.

The commerce minister highlighted the government’s determination to bring institutional and structural reforms, resolve energy and tariff issues, enhance regional connectivity, and diversify exports to ensure sustainable growth and stabilise the economy. The Federal Commerce Minister also appreciated the APTMA’s idea of modern industrial zones with plug and play facilities, saying that it would be helpful in attracting Chinese investment ahead.

Speaking on the occasion, Patron-in-Chief APTMA Dr Gohar Ejaz stressed on bringing the interest rate and electricity tariff down to ensure level playing field for the industry. He said the APTMA has proposed establishment of modern industrial zones dedicated to garment manufacturing offering state of the art infrastructure with plug & play facilities ensuring highest standards in security, amenities, hospitality, housing, etc., in the country. He said garment manufacturing is less energy intensive and will pose no additional burden to the grid.

According to him, the Punjab government has already conceptually approved this project and formed a committee headed by the Provincial Minister for Industries. APTMA is in close liaison of this committee.

Chairman APTMA North Mr Kamran Arshad made a detailed presentation on the state of affairs in the textile industry. He urged the federal minister to bring power tariffs for industrial consumers to regionally competitive level of 9 cents/kWh by removing cross subsidy/stranded costs. Also, he stressed on allowing B2B power contracts with Use of System/Wheeling Charge of 1-1.5 cents/kWh, excluding cross subsidies and stranded costs. He further proposed to increase the cap on solar net-metering for industrial consumers from 1MW to 5MW and restoration of zero rating.

He also urged the federal minister to expedite payment of tax refunds besides extension of financial liquidity to the industry and proposed steps to promote export of MMF products. It will promote product diversification and Pakistan will be able to gain a handsome share in the global MMF based market, he added.

Related Articles

Stay Connected

11,285FansLike
394FollowersFollow
9,300SubscribersSubscribe

Latest Articles