LAHORE: The garments manufacturers have asked the government to bring down cost of doing business in the country.
The Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) urged the government to take measures for bringing down cost of doing business to a level of Pakistan’s regional competitors in order to survive in tough competition in global market.
PRGMEA Chairman Ijaz Khokhar, and Vice Chairman Naseer Malik, in a joint statement, said that Pakistan’s textile exports were once very close to Indian textile exports few years back. But with 5% industrial growth rate in our neighbouring country, its annual textile exports have crossed USD 33 billion mark mainly due to conducive policies.
Ijaz Khokhar said that China added further 35.29million spindles; while India added 14.2 million and Bangladesh 1.98million spindles in textile sector during 2008-13 periods. In Pakistan, only 1.02million spindles were added in five years. PRGMEA Chairman said that as per the regional comparison of cost of doing business, it is evident that Pakistan’s wages, interest rates, tariff of electricity, gas and water is much higher creating hurdles for smooth business.
