Daily Times

The value-added export-oriented textile industry should be given the top priority of the government, providing them maximum facilitation to meet their exports requirements. The government needs to establish long-term and sustainable policies in consultation with the real stakeholders to enhance exports, increasing foreign exchange earnings for the country. Presently, the high cost of doing business has proved to be dangerous for the export-oriented apparel industry, as the ever-increasing energy, gas and power tariffs are the real threat to the economy amidst high markup rate and continuous fluctuations exchange rate.

These views were expressed in an interactive session jointly organized by Pakistan Hosiery Manufacturers and Exporters Association (PHMA) and the Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) here at a local hotel to review the challenges faced by the exporters. The meeting was attended by PHMA North Zone Chairman Abdul Hameed, Dr. Khurram Anwar Khawaja, Shahzad Saleem Asghar, Ashar Khurram, Shahid Butt, Dr. Khurram Tariq from PHMA and Ijaz Khokhar, Sohail Sheikh, Dr Ayyazuddin, Sajid Saleem Minhas and Mubashar Naseer Butt from PRGMEA, besides the apparel industry’s representatives from Lahore, Faisalabad and Sialkot. The participants of the meeting asked the government to take prompt measures to bring down the production costs for the export industry to enable them to compete in the international market. PHMA North Zone Chairman Abdul Hameed said that the export industry is currently having difficulty to compete the global market because of rapid increase in production costs. He said that the high cost of production is not good for our exports. Abdul Hameed said that high energy tariffs, growing rates of taxes, and lack of skilled labor are the main reasons behind the increase in the cost of production. Manufacturing and production industries have the potential to significantly impact economic growth by reducing unemployment in the country.