Trade Development Authority (TDAP) Chief Executive Syed Mohibullah Shah has said that TDAP will play its role in refunding Rs 180 million of research and development (R&D) to Pakistan Footwear Manufacturers Association (PFMA) in the same way as the R&D was given to the textile sector.
He was talking to the reporters on the inauguration of the 11th Pakistan International Footwear show (PIFS) 2009, organised by PFMA and TDAP at a local hotel on Saturday. Shah said that the trade policy, to be announced in July, would be for three years and consultations with the chambers and the exporters were going on for finalising the trade policy.
He said that despite the global recession in the world, Pakistani exports suffered less as compared to the neighbouring countries like India, Indonesia, Turkey, and despite of the fact that Pakistan was facing power crisis and other internal problems. Shah said that agro-based industries should be promoted and the TDAP had planned to establish leather institute and food technology institutes in Lahore.
He said that exports of our agro-based industries was increasing by giving the example of rice, and added that export of the rice was on the third number, but this year "we have earned the foreign exchange of two billion dollars from rice export and now The rice export is on number two after textiles."
Earlier, inaugurating the show, Mohibullah Shah said that the leader industry of Pakistan had a lot of potential and export of footwear had increased by 10 percent during this year. He stressed the need for value addition of the leather products, especially in the footwear sector.
He said that there should be the need of investment in this sector. He said that Pakistan was the 16th largest producer of meat in the world and there was enough hides and skin available in the country, which was a raw material for this industry.
Speaking on the occasion, PFMA Chairman Nasir Anwar Sheikh said that the purpose of this exhibition was to bring together a variety of footwear manufacturers from all over Pakistan to one forum and encourage footwear industry. He said that special subsidised rates of Pakistan's world-wide footwear trade had helped in increasing the exports to the extent of 250 percent in the past few years.
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