ISLAMABAD: Minister for Commerce Naveed Qamar said that government was committed to provide level playing field and reduce cost of doing business for export-oriented sectors including textiles to boost exports and reduce current account deficit.

Addressing virtual session organised by South Punjab Investment Forum in collaboration with USAID, he said, “I am glad to inform that textile exports during FY 2021-22 reached historical high level of $ 19.3 billion despite fallout of Covid-19 and severe economic challenges”. He said that it was time to promote value-added products, adding “I assure you that our incentives would only be available to value added products”.

Naveed Qamar highlighted steps taken by government which included supply of energy at competitive tariffs, disbursement of around Rs 42 billion from April to June 2022 to mitigate prevailing liquidity issues due to severe economic challenges, duty free import of cotton and reduction of Customs duties on import of dyes and chemicals, adding that duty free import of textiles and apparel machinery had been continued. He informed that ministry had formulated Textiles and Apparel Policy 2020-25 which would address matters including value addition, product diversification, skill development, productivity and ease of doing business etc. He urged to encourage ‘Made in Pakistan’ products. He said that in global textile Pakistan had less than 2 percent share which needed to be enhanced with practical steps.

Published in The Daily National Courier, September, 15 2022

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