LAHORE: The government must release all pending claims of the exporters, including custom rebates and sales tax rebate, as soon as possible and let the businessmen expand their business and generate employment.
This was stated by Muhammad Naseer Malik, vice chairman of the Pakistan Ready-made Garments Manufacturers and Exporters Association (PRGMEA). He said that it is the best policy under the present economic circumstances.
He said that the government seems determined to boost textile and clothing sector exports from $13 billion to $26 billion by 2019; however, keeping in view the energy crisis and other challenges, achieving this target requires extraordinary efforts.
He lauded the government’s initiative to offer about Rs 64.15 billion cash subsidy to the textile and clothing sector in the new textile policy and hoped that if implemented, this concession would help in improving textile exports.
However, he stressed the need for implementing the policy in letter and spirit if the required targets are to be achieved, including a 100 percent increase in value addition from $1 billion per million bales to $2 billion per million bales in the next five years.
