Pakistan Hosiery Manufacturers Association (North Zone, Sialkot) Chairman Arshad Javed Sandal said during the last fiscal year, hosiery and knitted garments were exported up to $1.5 billion as compared to $1.15 billion in fiscal 2002-03, showing an increase of 30 percent.
Talking to Business Recorder on Saturday here, he said the total exports from Pakistan exceeded with an increase of 12 percent, and touched the mark of $8.50 billion, adding that hosiery and knitted garments lead the textile industry as a value-added due to awareness of international standards, quality acceptance and market place, and this figure is more positive sign, if the cotton crop would not have been destroyed.
Arshad Javed Sandal was of the opinion that the existence of SRO-410 reduced the levies on imported textile machinery, and other components will engage the industry in full motion, provided the generalised system of preference (GSP) by the EU Trade Commission is not withdrawn by 2005 after post-quota regime.
He said an appealed had already been made to the federal commerce minister by the PHMA for negotiation with the EU Trade Commission.
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