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Pak carpet sector urges govt to restore zero-rated status
22
Apr '14
The export-oriented Pakistani carpet industry cannot benefit from the duty free-access to the European Union (EU) under the Generalized System of Preferences Plus (GSP+) facility, unless the Government restores the zero-rated regime for the carpet sector to help ease its liquidity flow, said Pakistan Carpet Manufacturers and Exporters Association (PCMEA) chairman Akhtar Naazi Cooki.

Mr. Cooki was speaking to members from the Trade Development Authority of Pakistan (TDAP), including TDAP chairman SM Muneer, who recently made a visit to the PCMEA office in Lahore, reports The Nation.

At the meeting, Mr. Cooki explained that a significant ratio of working capital of Pakistani carpet exporters is already stuck up in refund regime and carpet exports from the country have already declined from US$ 300 million to $120 million.

According to the PCMEA chairman, the Government should bring in necessary reforms and give special status to the export-oriented carpet industry of the country and enable zero-rating facility for it.

The PCMEA chairman also urged the Government to allocate Pk Rs. 1 billion for hand-knotted carpet industry to create 13,000 jobs for the under privileged segment of the society.

On his part, TDAP chairman SM Muneer said that the Government is in the process of bringing positive changes in the rules and the business environment to enhance the export capacity by collaborating with the various industries, including carpet industry.

According to the TDAP official, energy crisis and other challenges have been obstructing economic development in the country and also creating a barrier for growth of exports.

Fibre2fashion News Desk - India

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