PRGMEA welcomes renewal of GSP+ scheme for two years : AsiaNet-Pakistan

PRGMEA welcomes renewal of GSP+ scheme for two years

February 21, 2018 | General Business News | Share:

Karachi, February 21, 2018 (PPI-OT): Shaikh Mohammad Shafiq, Chairman Central, Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) appreciated the renewal of GSP+ scheme for two years. He said that GSP Plus plays a catalyst role to boost the Pakistani exports, in just 3 years Pakistan has successfully taken benefits of GSP+ market access in EU. Pakistan exports to EU as a percentage of total exports have increased from 24% in 2013 to 34% in 2016.

Under GSP+ Pakistani goods have Duty free access on 91% of EU tariff lines. Upward trend 6.29B Euros achieved in 2016 as compare to 4.54B Euros in 2013, only Textile sector fetch 4.87B Euros out of 6.29B Euros in total for 2016 and 3.14B out of 4.54B Euros were fetched in 2013 represents an increase of 54.8%, which leads to balance trade in favour of Pakistan.

We have acquired these achievements due to serious efforts of Mr. Muhammad Pervaiz Malik, Federal Minister for Commerce and Textile, Haji Mohammad Akram Ansari, State Minister, Commerce and Textile and Mr. Mohammad Younus Dagha, Federal Secretary Commerce. Shaikh Mohammad Shafiq also appreciated the announcement of PM Shahid Khaqan Abbasi, for five combined treatment plants for Karachi, which was the main demand of the industry to fulfill the GSP Plus standards.

11.19% increase in export is recorded for July – Dec 2017, as compare to July – Dec 2016. It seems that train is running on the right path, and necessary remedies have to be taken in order to continue this trend. Government should make sure to fulfill already announced their commitments, and ensures timely release of all stuck up refund payments against Sales Tax, duty drawback, drawback on local taxes and levies (DLTL) and DDT.

It has come to know through reliable sources that Government is going to release Rs. 4 billions, 1.5 billons for sugar 0.5 billion for Non Textile and reaming 2 billons for Textile. As government committed to release all pending payments by March, 2018. Shaikh Mohammad Shafiq, emphasize the government to expedite the process of separate utility tariff announced by the prime minister, as we already paying 15% more, compare to our competitors countries.

Another renewal for two years we have got, we have to make the most of it, to meet export target of 35$ Billion, and Government should also consider our time-barred claims as given to non-textile, while Textile sector has been the main driver of the economy for the last 50 years in terms of foreign currency earnings and jobs creation, there is no alternative industry or service sector that has the potential to benefit the economy with foreign currency earnings and new job creation.

He further said that it is grave injustice with the industries of Sindh, Baluchistan and KPK that despite production of natural gas in excess in their provinces, industries in Sindh, Baluchistan and KPK still face load shedding and additionally low gas pressure and are compelled to buy imported gas in contradiction to Article-158.

For more information, contact:
Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA)
3rd Floor, Plot No. 57-C, 24th Commercial Street,
Phase II (Ext), DHA, Karachi, Pakistan
Tel: +92-21-35890651-2
Fax: +92-21-35890653
Email: info@prgmea.org
Website: www.prgmea.org

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Category: General Business News