This is apropos a Business Recorder news item "Senate panel terms PM's textile package 'excellent paper work'" carried by the newspaper yesterday. According to it, the Senate Standing Committee on Textile Industry and Textile Exporters has described the prime minister's package as an "excellent paper work" and "good election campaign slogan". According to it, it appears to be a non-serious effort which would result nowhere in terms of increasing the exports of the country, as major concerns of the industry have not been addressed.
That textiles make the most important contributions in our exports is a fact. The government, it appears, has done little or nothing to address the issues of this key sector in any meaningful manner. One must not lose sight of the fact that government incentive packages can help an industry on both the supplier side and the consumer side. Moreover, incentive packages, which include subsidies and tax breaks, have become common tools in various countries to create jobs. It is also plausibly argued that sometimes new jobs are created, but at a high cost. Our policymakers, it seems, have failed to do proper homework in relation to economic incentives for the textile sector.
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