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Prudent policies boost exports significantly

Prudent policies boost exports significantly

ISLAMABAD: What is being attributed to the prudent policies of the incumbent government, export of the country increased significantly during the period July-March 2013-14.

As a result of government steps, the textile exports increased by 8% generally, while exports in all value added categories showed higher increased i.e. bed wear by 21%, hosiery by 10% and readymade garments by 9%.

The one year performance of the government in the textile sector revealed that the government disbursed Rs3.5 billion to the textile sector in the head of drawbacks, export finance support and mark up support against Rs2 billion in 2012-13.

The report said that productivity benchmarking of ginning, knit processing and knit stitching sector was completed in August 2013.

“The Ministry is formulating Textile Policy 2014-19 in consultation with stakeholders to double the exports of textiles sector from present $13 billion to $26 billion, final consultative conference are to be held in Karachi, Lahore and Faisalabad”, the report said.

According to the one year performance report of the government, the Ministry had given comprehensive proposals for opening up trade with India while protecting the domestic manufacturing to ensure level playing field and as a first step, 5% custom duty on cotton yarn has been restored.

The Ministry facilitated Made in Pakistan Readymade Garment Exhibition in Mumbai, India in April 2014,” it remarked.

The one year performance report said that the Ministry organized 3 awareness seminars on GSP plus while development of fiber diversification plan for wool, silk and polyester including handloom, embroidery specially for Sawat, Charsadda, Kohat etc were initiated.

The report further said that increased investment by private sector in first six months of CFY i.e. $ 319 million compared to $ 229 million during same period of previous year.

It added that submission of vocational training programme for 1,20,000 unskilled workers majority women in Planning Commission.