Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA), Chairman Ijaz A Khokhar, while terming the budget as business-friendly, has said it would help in boosting export earnings, especially, of textiles and clothing sector. In a press statement here on Monday, Khokhar said CBR's announcement of reduction in Sales Tax to zero per cent import and supply of all items, goods and services being utilised in the entire manufacturing regime of textiles was a very positive step.
"This will improve capital flow; competitiveness of textile products and achieve qualitative standards", he added. He said progressive steps were the result of textile industry's continuous demand to do away with the Sales Tax and other import duties for over a decade but due to international pressure of loan giving agencies; no relief to the trade and industry was extended in the past.
Ijaz Khokhar congratulated Prime Minister of Pakistan and his economic team for coming up with a people's budget. He said foreign exchange earnings for the current financial year would definitely bring more than dollars 10 billion against export of textiles and clothing.
He hoped the Garment Cities Board of Governors would have due representation from the relevant Associations to prove selfless devotion in facilitating for qualitative and competitive textile products' exports.
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