The government decision of electricity supply at regionally competitive rate of 7.5 cents per kwh and gas at 6.5 dollars per mmbtu to the export sector will give a significant boost to the value-added textile exports
Lahore (Pakistan Point News / Online - 29th February, 2020) The government decision of electricity supply at regionally competitive rate of 7.5 cents per kwh and gas at 6.5 Dollars per mmbtu to the export sector will give a significant boost to the value-added textile exports.In a joint meeting of the Pakistan Hosiery Manufacturers & Exporters Association (PHMA) and Pakistan Ready Made Garments Manufacturers and Exporters Association (PRGMEA), which was also attended by a large number of exporters, the leadership expressed satisfaction over the decision, saying the move will help enhance the exports drastically.
They also called for ease of doing business, lowering cost of production, solution of liquidity crunch through early refunds payment, long term and consistent energy tariff policy and relaxed import policy for industrial raw materials so that industrialization could promoted and exports could be enhanced.PHMA vice chairman Shafiq Butt, addressing the meeting said that the apparel sector is performing well through increase in exports and should be encouraged through making it truly zero-rated for its whole value chain.
Regarding ease of doing business, he added that various provincial departments including Employees' Old-Age Benefits Institution (EOBI), Social Security, Women Welfare, Environment Department should facilitate the manufacturers and exporters in a better way. "We request for easy and workable formula in the contribution of EOBI, Social Security etc." he maintained.
