Lahore: Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has congratulated the new government and announced full support to the new government in endeavor to transform the economy.
PRGMEA senior vice chairman Sheikh Luqman Amin said that the new government will need a competent team to address the economic issues, as the economic problems are due to lower exports and higher imports. He asked the new government to take measures to enhance exports and make strong policies for industrialization in the country.
Sheikh Luqman stressed the need of early clearance of outstanding refund
cases. He urged the new government to take immediate steps for clearance of outstanding refund cases to protect the industry from total collapse.
He said that PRGMEA is hopeful that country will progress rapidly in changed political culture and will put the country on the path of progress and prosperity, he added.
PRGMEA leader said that the renewal of GSP plus status is a golden
opportunity which our exporters could exploit. He also recommended that
export emergency should be declared in the country to control the decline in the export sector.
He said that high cost of doing business, issues of market access and
exchange rate are hindering the Pakistan exports growth and the government
will have to work on it in consultation with the stakeholders to resolve the problems.
He said that PRGMEA is the main stakeholder of the Apparel sector. And
Apparel Industry is playing a pivotal role in foreign exchange earnings and generating large employment in the whole textile chain and exporting up to $ 5 billion textile products.
“We strongly request to the State Bank of Pakistan to cancel circular dated 14th July, 2018 with immediate effect.”
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