PTEA stresses value-addition

LAHORE: Pakistan Textile Exporters Association (PTEA) has stressed to focus on value-addition in textile industry, as sustainable growth hinges upon value addition, a statement said on Friday.

PTEA Chairman Mian Shaiq Jawed said that value-addition is the key to success and the government must focus on capturing greater share in regional and international trade through value-addition. He stressed to facilitate the import of cheaper raw materials and export finished products after adding value.

High cost of production and un-competitiveness are major irritants in export growth and pragmatic policies are needed to be implemented to reduce the cost of production and create a level-playing field, he said.

Appreciating the government’s efforts to boost exports, Jawed said that the incentive of duty drawback under the prime minister’s export package helped increase textile exports.

Government should step up support to technology upgradation to meet the changing industrial conditions, he added.