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Exports

Pakistan Textile Council Seeks Enabling Policy Environment for Enhanced Exports

Strategic Insights

— 1 min read

The Pakistan Textile Council has emphasized the need for an enabling policy environment to boost the country's textile and apparel industry exports, which could immediately surge by $3-4 billion annually. PTC Chairman Fawad Anwar made this assertion during a meeting with Federal Minister for Commerce Jam Kamal Khan, accompanied by Asif Tata, Chairman of Naveena Group, and CEO Muhammad H. Shafqaat. The discussions centered on vital reforms, including tariff and tax rationalisation, energy pricing, green investments, and structural changes to improve the sector's competitiveness, sustainability, and export growth.

Key Takeaways:

  • The Pakistan Textile Council estimates that the country's textile and apparel industry could add $3-4 billion in annual exports with an enabling policy environment.
  • Discussions during the meeting focused on necessary reforms such as tariff and tax rationalisation, energy pricing, green investments, and structural changes.
  • Commerce Minister Jam Kamal assured the delegation of government support in the upcoming federal budget, reaffirming commitment to achieving regional tariff parity.
  • A committee headed by Finance Minister Muhammad Aurangzeb has been formed to develop a long-term tariff rationalisation framework.
  • The PTC voiced concerns over proposed changes to the Export Facilitation Scheme (EFS) and advocated for the effective use of the Export Development Fund.
  • The council emphasized the need for immediate clearance of outstanding claims under government support programs.
  • The introduction of Green Credit Schemes is required to meet international sustainability standards, with a significant segment of the industry already adopting renewable energy sources.

Statistics:

  • The Pakistan Textile Council estimates a possible $3-4 billion increase in annual exports with an enabling policy environment.
  • A committee headed by Finance Minister Muhammad Aurangzeb has been formed to develop a long-term tariff rationalisation framework.

Sources:

  • "Pakistan : Textile sector wants measures to increase exports" ([Pakistan Daily](www.pakistantoday.com.pk/2023/04/29/pakistan-textile-sector-wants-measures-to-increase-exports)), Saturday, April 29, 2023.
  • Statement by the Ministry of Commerce on Saturday.

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