The ambitious textile and apparel export target of US$ 95 billion set by the Government under the recently announced Strategic Trade Policy Framework (SPTF) 2012-15 is unachievable, Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) Central Chairman Sajid Saleem Minhas has said.
Pakistan’s textile and garment exports would be required to achieve US$ 32 billion per year or a 20 percent year-on-year growth for the next three years to meet the set target. Even assuming that the Government settles all energy crisis and law and order related issues, the textile and clothing sector would still not be able to achieve the target due to inherent weaknesses of the country’s economy, he said.
Mr. Minhas said the SPTF would result in creation of new governmental regulatory bodies to help the industry stakeholders to help them boost exports, which would, in fact, further add to the troubles of the industry.
Although the share of new sectors is increasing in Pakistan’s exports, it is mainly due to the decline in exports of textiles and garments, Mr. Minhas said.