FAISALABAD. Engineer Muhammad Saeed Sheikh, President Faisalabad Chamber of Commerce & Industry (FCCI), has expressed satisfaction over the increasing trend in textile exports and said the government should continue this package in addition to extending the notification for the payment of incentives from 1st of July, 2017 onward.
Quoting the figures of Pakistan Bureau of Statistics, he said that 14.41% increase was recorded during the month of August 2017 compared to the last month of July 2017. Similarly during July-August 2017, an increase of 11.80% was recorded compared to the same months of the last year.
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He further said the textile sector has been facing deep crisis for the last many years and our exports are declining despite the status of GSP plus.
However its positive results have proved beyond any doubt that the declining trend has stopped and now exports are increasing at a steady pace. He added that the government has not yet issued a notification for the continuity of this package beyond 1st of July, 2017 which is a matter of concern for the textile exporters.
Engineer Muhammad Saeed Sheikh said that as Faisalabad is the major stakeholder in textile exports therefore 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 of the representatives of finance, commerce division and FBR to review this package and hoped that the government will also give a due representation to Faisalabad in this committee.
He also welcomes the proposal to give 2% extra incentive to the exporters making exports to the non-traditional markets. He said this step will give an immediate and quantum jump to the national exports in addition to generating economic activity within the country. Engineer Muhammad Saeed also stressed upon his previous proposal to appoint the businessmen nominated by the chambers concerned as commercial counselors in uncovered and non-traditional markets to ensure the presence of Pakistani exports in these countries. He proposed that the commercial counselors from business community may be appointed in emerging markets of Africa, Latin America, non-EU countries, Commonwealth of Independence States and Oceania which remained neglected for Pakistani exports.
