More sectors to come in the folds of PM’s export package

LAHORE: Pervaiz Malik, the federal minister for commerce and textile, on Saturday said mounting cost of manufacturing was impeding Pakistani products from reaching their true market potential around the world. 

“Several concrete steps are being taken to increase the volume of overall exports and Rs180-billion incentive package has contributed significantly towards it,” he said while addressing the inaugural session of 18th Textile Asia 2017 International Trade Fair. 

“The ECC (Economic Coordination Committee), in its last meeting, has reviewed the impact of prime minister's export package in boosting exports. It is also considering expanding its scope by including other sectors into its folds.” 

The federal minister said that the Prime Minister Shahid Khaqan Abbasi, has directed the constitution of a committee to undertake a detailed analysis of the impact of export package, proposing some changes in its scope and coverage. 

Ijaz Khokhar, central chairman Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA), said that China-Pakistan Economic Corridor (CPEC) has opened a gateway of opportunities for industrial cooperation between Pakistan and China. 

“Under CPEC projects, the government is keen to link China’s small manufacturing enterprises with Pakistan’s, as a number of Chinese firms will relocate their production units in Pakistan,” Khokhar said. 

He urged the government to consider value-added textile as a key priority sector and make all possible efforts to set the right policies and incentives that encourages private sector investment in value addition. 

“The apparel segment is the highest value-added link in the entire textile value chain,” Khokhar said adding that though global market was highly competitive, our apparel industry proved its strength as export increased by 5.55 percent in 2016-17.

Dr. Khursheed Nizam, CEO of Ecommerce Gateway Pakistan, said that more than 50,000 trade and corporate visitors were expected to turn up the event during the three days, while more than 600 foreign delegates are also participating it.