Zafar Iqbal Sarwar Senior Vice President Faisalabad Chamber of Commerce & Industry (FCCI) has proposed new textile policy for 2019-24 with a clear objective to make Pakistan world market leader in textile by focusing on its value added exports.
Unfolding the objectives of textile policy, he said that special emphasis will be given to improve Pakistan global ranking in ease of doing business and reduction in cost of doing business. He proposed one window operation for Registration, Incorporation, EOBI, Social Security, Taxation and collection of different fees etc.
He demanded equal energy cost across the country in addition to the settlement of GIDC matters and payables. He said that in order to overcome the misuse of subsidized energy and DTRE (Duty & Tax Remission Schemes), government must take appropriate steps in consultation with real stakeholders. He said that efforts must be expedited to increase cotton production through improving product mix by concentrating on product research and development. He also demanded that government should ensure subsidized credit facility, enhance audit limits, markup support and incentives so that textile exporters could invest in value addition of their innovative products.
Continuing, Zafar Iqbal said that steps should also be taken to facilitate additional capital investment and reduce cost of doing business. In this connection, he proposed dispute resolution committees consisting of representatives of Federal Board of Revenue (FBR), Trade Bodies and ICAP.
Underlining the importance of SME, he said that government should also focus to strengthen this most important sector which is full of potentialities. He expressed satisfaction over GSP plus status and said that a hectic diplomatic campaign should be launched to ensure continuity of this facility. In this connection, Green Banking finance facilities and other social compliance should be ensured through policy interventions.
Sarwar also proposed a textile research forum to enhance cotton yield by encouraging genetically modified seeds, organic cotton and sustainable production centre in Pakistan. He said that Pakistan based testing facilities must be ensured in addition to encouraging internationally accredited labs with special focus to install testing equipments for the identification of harmful substances. He said that government should encourage joint ventures/investments for the manufacturing of textile machinery and production of various inputs used by allied industries in Pakistan subject to its economic viability.
"Comprehensive reforms must be introduced in trade bodies and trade delegations by initiating a transparent process of audit to identify and eliminate "Mafias" and mindset that has crippled the growth of textile sector," he added. He also stressed the need to introduce brand Pakistan and business facilitation centre for textile export so that they could explore new markets and introduce their own brands in international markets. Senior Vice President FCCI demanded that existing industrial zones should be improved by extending the facility of plug and play especially to the SME sector which is starved of finances. Similarly vocational training should be improved and women entrepreneurs must be encouraged so that they could contribute their role through coordinated efforts between the relevant Ministers and trade authorities.
Copyright Business Recorder, 2019