PRGMEA for formulation of sector-wise policies

Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has underscored the need of formulation of sector wise policies with the consultation of stakeholders for bringing boom in export of the country, said Chief Co-ordinator Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Ijaz A Khokhar.
Talking to Business Recorder hereon Tuesday, the formulation of sector wise policies would not only help in increasing exports but also supportive in minimising the problems confronted by the business community, he said. Ijaz said the government should take drastic steps for enhancing exports and address the problems of industrial sector on top priority basis for larger national interests.
Despite of certain hurdles the business community engaged with readymade garments was making strenuous efforts for enhancing the export for the larger national interests, he said. Ijaz said that due to non-availability of latest fabric locally, the garment sector currently have a limited product line for export market adding that foreign buyers were demanding new garments on G3, G4 and technical fabric raw material which are not available and produced by Pakistani weavers so far. There was a dire need of formulating a aggressive marketing plan at the earliest possible for garment export to gain the maximum benefits of GSP status he said.
We have suggested that zero rated facility (no payment no refund) should be granted for garment sector to ensure utilisation of all capital for increasing business activities, he pointed out. Ijaz said, at present, more than 30 percent cash flow is blocked since long in the shape of sales tax refund and custom rebates which is adversely damaging cash liquidity for boosting business. He said our value-added products are unable to fetch high value due to the poor packaging and under the circumstances there is need of setting up a product and packaging centre for ensuring better packaging.
Our Research and Development (R&D) is very weak due to the high cost of utility and allied factors and under the circumstances government should announce special R&D support fund for innovation of new product and up gradation of workplaces and if government announce special package of concessions export could be enhanced US 7 billion dollars, he maintained. Sialkot has become fourth largest producer of readymade garments and sportswear, particularly in Martial Arts Uniforms and Sialkot has become fourth largest producer of readymade garments and sportswear, particularly in Martial Arts Uniform, he added.