Commerce Minister Khurram Dastgir has said that prudent economic policies of the government have put the country on the path of development and effective steps are being taken to boost the exports.
In an interview with state-run PTV on Tuesday, the Minister expressed the hope that under the Prime Minister Package of 180 billion rupees as duty drawback to exporters, the country will witness further improvement in the export sector.
He said the economic growth will create millions of job opportunities, which is seemed to be possible after ensuring peace and availability of energy in the country.
Meanwhile, 6th Meeting of the Federal Textile Board (FTB) was held on June 5th, 2017 at Ministry of Textile Industry under the chairmanship of Federal Minister for Commerce Engineer Khurram Dastgir Khan.
Representatives of Ministry of Commerce, Ministry of National Food Security, Ministry of Industries and Production, Finance Division and APTMA, APTPMA, TMA, PHMA, PRGMEA, PTEA, APBUMA and other associations attended the meeting.
The representatives of textile associations appreciated efforts of Federal Minister for Commerce to solve various issues of textile industry at various forums.
The Federal Minister for Commerce acknowledged that an increasing trend in exports is observed after the announcement of Prime Minister Package and hoped for further increase in coming days. During the meeting Federal Budget 2017-18 and allocations made there under for various schemes of textile sector were discussed.
The industry showed reservations for less allocation for duty drawback under Prime Minister’s Package of Incentives for Exporters. The senior officer of Finance Division assured that funds will be released for duty drawback from allocations under federal budgets as well as supplementary grant, based upon the claims submitted in State Bank of Pakistan.
The industry also requested to resolve the disparity issue of energy cost between north and south, and demanded to separate industrial feeders. The industry also requested to resolve the issue of pending refund claims. During the meeting misuse of DTRE scheme, smuggling and issue of worn clothing were raised.
The Federal Minister assured that measures will be taken in consultation with industry. Industry also desired to enter into Free Trade Agreement (FTA) with Turkey, US, Canada and Indonesia, to tap potential markets over there. The Federal Minister informed the house that FTA with Turkey is at developed stage, whereas with Iran and Indonesia is under consideration. It was agreed to prepare proposals for market and brand focused exports.