The Pakistan Cloth Merchants Association (PCMA) has described the new trade policy as balanced and growth-oriented, and said if consistency was maintained in the policies, the new export target of 13.7 billion dollars would easily be achieved.
Central PCMA Chairman Abid Chinoy, in a statement, welcomed the special package for the garment sector for the post-quota regime, and expressed the hope that the measures announced in the trade policy would be fully implemented unlike the past when the policies remained unimplemented.
He appreciated the fact that on the demand of the business community, the duty drawback rates on the export of polyester-based textile products had been increased but not completely restored.
That should be done immediately to boost exports, he added.
Chinoy lauded the permission to import combined effluent plants on five percent duty, which would help the exporters meet the World Trade Organisation (WTO) requirements.
He welcomed the removal of the sales tax on ginned cotton, and demanded that the same treatment should be given to the yarn. Chinoy lauded the freight subsidy given on the export of non-traditional items.
He congratulated Commerce Minister Humayun Akhtar for providing several initiatives to the exporters, especially to the textile sector, which had a major share of three billion dollars in the total exports.
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