PRGMEA seeks PM’s help

KARACHI: Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has said that under the current global challenge of coronavirus, readymade garments manufacturers and exporters are going to face problems in procurement of raw materials, a statement said on Wednesday.

Shaikh Shafiq Jhokwala, central chairman, and Amir Amin Kothawala, chairman (South Zone), PRGMEA, said that massive breakdown in supply chain of raw materials and exports to buyers across the globe were anticipated.

Being an effective business community of Pakistan, readymade garment and textile sector are standing behind the government; however, severe liquidity issue needs a prompt support from the government, they said, and appealed Prime Minister Imran Khan to look into the matter.

They emphasised for issuance of all outstanding refund payments of textile exporters, including the sales tax, duty drawback, and income tax along with textile policy incentives (such as duty drawback of taxes, Technology Upgradation Fund (TUF) and markup support subsidy to run the industries.

They suggested interest rate should be brought down to a single-digit, as reducing it by 75 basis points was a joke to deal with the economic crisis.