GSP Plus extension leads to 13pc exports growth

LAHORE, Mar 30 (APP):European Union’s extension in the GSP-Plus status (Generalized System of Preferences) to Pakistan has helped increase exports of value-added textile goods by up to 90 per cent, leading to exports growth by 13 per cent during last eight months.
Adressing the launching ceremony of International Apparel Federation (IAF) membership in Pakistan held here at regional office of Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) on Friday, Federal Commerce Secretary Younus Dhaga said the PM package in the shape of Duty Drawback on Taxes (DDT) for the exporters had also helped growth of textile exports.
He added that government was working on five-year Strategic Trade Framework, according which branding, gender equality and promotion of SMEs (Small and Medium Enterprises) to achieve exports target.
Appreciating PRGMEA’s role, he said the government had identified textile as a key priority area and was striving to set the right policies and incentives that encouraged the private sector investment in value-addition. He assured the members of PRGMEA of resolving all their issues at the earliest.
Earlier in his welcome address, PRGMEA Senior Vice Chairman Sheikh Luqman Amin appreciated the extension in the GSP-Plus, saying, “We have succeeded in reaching this landmark simply due to serious efforts of Ministry of Commerce and Textile. Renewal of GSP-Plus status is a golden opportunity for us to enhance our exports.”
Sheikh Luqman mentioned that despite assurance by authorities concerned to clear all pending claims, more and more refund claims were piling up. He stressed the need for formulating a clear policy in this regard. He also called for ease of business to jack up country’s industry to a much competitive level.
On this occasion, the IAF Regional President Ijaz Khokhar stressed the need for enhancing the product lines of Pakistani exports and for that purpose, some incentives should also be announced to motivate exporters.
“Currently, the garment sector has a limited product line for export market due to non-availability of the latest fabric locally. Foreign buyers demanding new garments based on G3, G4 and Technical fabric material. We need to offer more diversified products to take benefit from the GSP Plus,” he argued.
He said that Pakistan direly needed to establish an Aggressive Marketing Plan for garment export to get maximum benefits of GSP-Plus status.
The IAF Regional President added that regional taskforce needed to be established to determine issues being confronted by the industry and then to suggest measures to ensure its viability and competitiveness in the international market.