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Business

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November 15, 2017

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Aptma calls for competitive business environment

Aptma calls for competitive business environment

ISLAMABAD: The All Pakistan Textile Mills Association (Aptma) on Tuesday stressed the need for providing competitive business environment to the textile sector to enhance country’s exports.

Aptma general secretary Anis-ul-Haq emphasised on the structural balance and viability of industry to compete with the regional competitors, including India, Bangladesh and Vietnam. He said pragmatic and export-led policies are required for industrial growth and enhancing the country’s exports.

Talking to APP, a senior official of the ministry of commerce and textile assured timely payments through the Prime Minister’s Trade Enhancement Package of Rs162 billion to the textile sector by June 2018 to enhance exports.

“We had paid Rs9 billion of the total of Rs15 billion for the last fiscal year in the shape of duties drawback to the textile sector, he said. The government has accorded priority to the textile sector and helped it gain competitiveness in order to enhance the country’s exports, he added.

“We want to revive confidence of the textile sector through the trade enhancement package.” The official said the government has planned to expand coverage areas of the Trade Enhancement Package to the remaining industrial sectors, including pharmaceuticals.

“We are committed to providing an enabling environment for the industrial sector,” he said, adding that the government has also given relaxation on the import of textile machinery for modernisation and to enhance the capacity of the sector. The official said through this package the cost of doing business would come down in the country.

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