Pakistan could capture big share in textile global market: PRGMEA

News Image

By MG News | August 04, 2020 at 02:24 PM GMT+05:00

0:00

Aug 4, 2020: The Regional President of International Apparel Federation (IAF) and Chief Coordinator Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Ijaz A. Khokhar said that Pakistan could capture large share in the global market of value-added textile.

 Talking to APP on Tuesday he said that in order to achieve milestone to enhance exports, the government should revise its policies in order to facilitate the export sector, adding that without the due support of the government, exporters were unable to grab the share of the global market.

 He suggested the ways and means for bringing out the textile sector from the crisis. He added that despite certain odds, the business community engaged with the textile sector was making adequate efforts for increasing the export of the country.

  He suggested that the government should exempt cotton yarn from all types of taxes and duties for encouraging this value-added sector. He further added that Apparel industry should be allowed to import fabric as the weaving industry was unable to fulfill the growing demand for fashion wear.

Ijaz further said that currently, the garment sector has a limited product line due to non-availability of the latest fabric at the local level, adding that foreign buyers demanded new garment based on G3, G4, and technical fabric material and under the circumstance, there was a great need of product diversified to compete in the international market.

PRGMEA requested that the government should consider on the restoration of the zero-rated regime for five major export-oriented industries (Sports, Surgical, Leather, Carpet and Textile) on the priority basis for the survival of exports of the country. It is high time that the government should announce the previous system “No Payment No Refund” to save the export sector of the country.

Export Development Fund (EDF) should be allocated for Research and Development in accordance with the concerned industrial sectors for bringing innovation and to improve the standard of products to cope with challenges of the global market, he said.

APP

Related News

Name Price/Vol %Chg/NChg
KSE100 133,569.23
126.27M
0.15%
199.08
ALLSHR 83,297.70
464.96M
0.26%
216.55
KSE30 40,752.26
42.37M
0.12%
46.96
KMI30 192,367.87
50.54M
-0.11%
-212.80
KMIALLSHR 55,897.98
263.03M
0.11%
62.27
BKTi 36,558.21
8.79M
0.66%
241.04
OGTi 28,559.25
4.82M
0.06%
16.30
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,685.00 108,880.00
107,680.00
230.00
0.21%
BRENT CRUDE 69.27 69.50
69.03
-0.31
-0.45%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
2.90
3.07%
ROTTERDAM COAL MONTHLY 106.00 106.75
106.00
0.25
0.24%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.55 67.97
67.40
-0.38
-0.56%
SUGAR #11 WORLD 16.25 16.46
16.07
-0.13
-0.79%

Chart of the Day


Latest News
July 08, 2025 at 12:04 PM GMT+05:00

Saudi Riyal available at PKR 76.4 in open market


July 08, 2025 at 11:55 AM GMT+05:00

NBP leads Pakistan’s banks in shareholder value surge


July 08, 2025 at 11:39 AM GMT+05:00

Pakistan-Afghanistan railway talks progress


July 08, 2025 at 10:42 AM GMT+05:00

Pakistan moves to regulate crypto with PVARA approval



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg