FAISALABAD: The government should continue the implementation of textile package and extend notification for the payment of incentives from July 1, 2017 to onwards.
Faisalabad Chamber of Commerce & Industry (FCCI) President Engineer Muhammad Saeed Sheikh expressed satisfaction over the increasing trend in textile exports which was the natural outcome of the implementation of textile package.
Quoting figures of Pakistan Bureau of Statistics, he said that 14.41% increase was recorded during the month of August 2017 as compared to July 2017. Similarly during July-August 2017, an increase of 11.80% was recorded as compared to the same months of last year.
He said the government on our persistent demands, had to announce Textile Package in order to check the declining trend of exports and revive its vibrancy.
He said initially the implementation on this package was very slow. However, its positive results had proved beyond any doubt that the declining trend had been stopped and now exports were increasing at a steady pace, he said.
Continuing, Engineer Muhammad Saeed Sheikh said that as Faisalabad was the major stakeholder in textile exports, hence, the government must take us on board while making any policy decision relating to the textile sector.
He also welcomed the establishment of a committee comprising representatives of finance, commerce division and FBR to review this package and hoped that the government would also give due representation to Faisalabad in this committee.
He said the representative of FCCI in this committee would be very productive in terms of improving and revisiting the scope of this committee in addition to taking necessary administrative as well as new incentives to further increase the textile exports.
He welcomed the proposal to give 2% extra incentive to the exporters making exports to the non traditional markets. He said the step would give an immediate and quantum jump to the national exports in addition to generating economic activity within the country.
