The Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) recently said the promised abolition of all duties on cotton yarn imports will enhance value-addition, improve exports and reduce trade deficit. According to PRGMEA chief coordinator Ijaz Khokhar, The step will help reduce business costs and bridge production-consumption gap.
The sharp increase in cotton yarn prices has hit the export-oriented value-added textile sector hard, said Sheikh Luqman Amin, senior PRGMEA vice chairman.
During his visit to the Sialkot Chamber of Commerce and Industry some time back, the prime minister was also urged by PRGMEA to restore the role of industrial associations in disbursement of duty drawbacks under the revised PM’s exports incentive package to ensure transparency, according to Pakistani media reports.
