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Apparel sector shows encouraging performance despite all odds
07 Jun '08
3 min read
This R&D support is expected to be extended for another year in the coming budget, which is about to be announced on June 11. However, in the present session, R&D incentives may be conferred in accordance to the export volume of a trader, rather than the fixed percentage that is being presently offered to various categories.
Last year, the R&D provided to home textile was at five percent, readymade garments six percent and for finished fabric it was three percent.
The assumptions for this year's budget have created an inexplicable disturbance among the industry players. Research and Development is vital for the garment sector and any reduction in six percent R&D subsidy will lead to the further degradation of this particular sector.
PRGMEA hope that the Government will not make such discriminating decision and will provide level playing field and will take encouraging steps to include large number of small entrepreneurs in race of growth.
PRGMEA Zonal Chairman, Mr Shehzad Salim, has submitted a presentation to the Textile Ministry showing the development of garment industry, demonstrating the requirement of R&D for the sector. According to him, countries like India and China spend huge amount on research and development as R&D has a huge impact on the export growth of any country.
The presentation show that R&D should not be discontinued but revamped and present 6 percent subsidy should be extended for another 5 years other wise Pakistan will loose golden opportunity to gain major global share in this stipulated time and China will move ahead. At the same time thousands of workers will loose jobs.
To view the presentation click here
Last year, the R&D provided to home textile was at five percent, readymade garments six percent and for finished fabric it was three percent.
The assumptions for this year's budget have created an inexplicable disturbance among the industry players. Research and Development is vital for the garment sector and any reduction in six percent R&D subsidy will lead to the further degradation of this particular sector.
PRGMEA hope that the Government will not make such discriminating decision and will provide level playing field and will take encouraging steps to include large number of small entrepreneurs in race of growth.
PRGMEA Zonal Chairman, Mr Shehzad Salim, has submitted a presentation to the Textile Ministry showing the development of garment industry, demonstrating the requirement of R&D for the sector. According to him, countries like India and China spend huge amount on research and development as R&D has a huge impact on the export growth of any country.
The presentation show that R&D should not be discontinued but revamped and present 6 percent subsidy should be extended for another 5 years other wise Pakistan will loose golden opportunity to gain major global share in this stipulated time and China will move ahead. At the same time thousands of workers will loose jobs.
To view the presentation click here
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