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Sunday March 03, 2024

Two export advisory councils set up to boost growth, exports

Government established two Export Advisory Councils (EACs) tasked with offering recommendations to the Ministry of Commerce on issues impacting textile and other exports

November 23, 2023
In this representational image, shipping activity can be seen at the Port Qasim, Karachi. — APP/File
In this representational image, shipping activity can be seen at the Port Qasim, Karachi. — APP/File

ISLAMABAD: After almost a year-long continuous monthly contraction in exports, especially textiles, the government on Wednesday established two Export Advisory Councils (EACs) tasked with offering recommendations to the Ministry of Commerce on issues impacting textile and other exports.

These councils will also propose measures to enhance overseas sales and foster local job creation. The Export Advisory Council for Textiles, comprising 16 members, will include nine representatives from the private sector, with a focus on renowned brands. The Minister for Commerce will serve as the convener and chairperson of the council, while the Ministry of Commerce will provide secretariat support.

The council will convene monthly, with the option for more frequent meetings as needed. Private sector members are Musadaq Zulqarnain of Interloop Holdings, Fawad Anwar of Al-Karam Textiles, Shahid Soorty of Soorty Textiles, Mian Muhammad Ahsan of US Group, Yaqoob Ahmed of Artistic Milliners, Amir Fayyaz Sheikh of Kohinoor Mills, Shahid Abdullah of Sapphire Textile Mills, Ahmed Kamal of Kamal Textile Mills, and Ashraf Makati of company TBC. Additionally, a 21-member Export Advisory Council has been established for non-textile export promotion. The Minister for Commerce will chair this council, which includes 14 private sector members from various industrial sectors and seven public sector members. Private sector members are Shehzad Ali Malik of Guard Agricultural Research and Services, Waheed Ahmed of Iftikhar Ahmed and Co., Khalil Sattar of K&N’s Foods (Pvt) Ltd, Zulfiqar Malik of Malik Sports, Salman Hanif of Hanif Jewellery & Watches, Adnan Hirani of Hirani Pharmaceuticals, Zubair Tufail of Tufail Chemicals, Jahangir Bajwa of Amicas Enterprises, Abdur Razzak Gauhar of Infinity Engineering Pvt, Ltd, Shoaib Sultan of Popular Marble Industries, Zulfiqar Hayat of Leather Ltd, Shabbir Dewan of Getron (Industries) Ltd, Anwar Ghani of Ghani Glass, and Fuad Garib of Garib Sons (Pvt.) Ltd. Whereas, the public sector members are the same as those in the Textiles Council.

Notably, in eleven months from October 2022 to August 2023, the year-on-year decline in goods exports was in the range of 3.25 percent to 26.2 percent. The country’s textile exports from July to October of FY24 witnessed a decline of 6.3 percent, totaling $5.565 billion, down from $5.94 billion in the corresponding period of FY23.