China-US trade war benefits Pakistani exporters

October 11, 2018 (MLN): The FCCI President Syed Zia Alumdar Hussain has said that the ongoing trade tension between China and USA has benefited Pakistan as its exporters are getting extra orders from USA amid prevailing circumstances.

He pointed that these orders could be doubled provided the government resolves the country’s liquidity problem by ensuring immediate payment of tax rebate, refund and Drawback of Local Taxes and Levies (DLTL).

Zia Hussain said that Faisalabad is the main industrial and economic center for Pakistan as the city not only has Asia’s biggest sock manufacturing units, it also has the largest knitwear factory, rice mill, yarn market and a state-of-the-art agriculture university.

“The share of Faisalabad in total textile exports is around 55%,” he said.

“Although textile is the mainstay of Pakistan’s economy, many other sectors like oil, chemicals and beverages are also contributing to the national economy in a big way,” he added.

He said that FCCI office-bearers had drawn out the ‘Triple E plan’, which will focus on the economy, exports and education as these sectors are going to be FCCI’s main priority for the year 2018-19.

He mentioned the recent visit of Finance Minister Asad Umar to the FCCI and said that the chamber had played a major role in conscripting the textile policy for the next five years.

He also expressed satisfaction over the government’s efforts to implement uniform gas tariffs across the country, especially for the five major export-oriented sectors including textile.

Copyright Mettis Link News