Exporters Stress Innovation and Diversity for Sustainable Growth in Pakistan”
Enhancing exports is crucial for Pakistan’s sustainable growth, with the country’s balance of payments sustainability hinging on innovation and diversity in the economy’s structure, according to Mubashar Naseer Butt, Central Chairman of the Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA). The PRGMEA, in collaboration with the Model Customs Collectorate, organized an interactive session to assist exporters in boosting value-added textile exports.
Customs Collector Azmat Tahira and her team discussed various issues with exporters, including rebate calculation, pending Duty and Tax Remission for Export (DTRE) cases, and HS code approval. The PRGMEA emphasized the importance of removing anti-export bias and adopting competitive principles with government support to bring about a fundamental shift in the industry.
Speaking on the occasion, PRGMEA North Zone Chairman Ahmed Hanif said Pakistan needed to diversify its export markets as more than 50% of exports relied only on four markets – the US, European Union, China and Afghanistan.
He urged the government to help the industry make a difference while diversifying its markets.
“In order to increase exports, it is imperative that both public and private sectors join hands and hold such discussions regularly,” he said and underlined the need for developing such systems, with technological support, that could increase efficiency of exporters and bring down time and cost of doing business.
[…] exports to the Middle East witnessed a robust rebound, recording a growth of 28.98%, reaching $1.257 billion in the initial five months of the current fiscal year compared […]