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Govt to promote free market mechanism – Mr Baig
28
Oct '10
Dr Mirza Ikhtiar Baig, Federal Advisor on Textiles has promised all the stakeholders of the textile sector that the government will not impose any restriction on yarn or other exportable textile products which would hamper the continuity of free trade mechanism.

He while speaking for the government said that, the Pakistani government has faith in and assures free market mechanism.

Baig while addressing a seminar conducted by the All Pakistan Textile Mills Association at APTMA house, firmly resisted the stringent monetary policy of SBP, which he believes, has hindered country's economic development and industrialization, halted hiring process, and has boosted inflation to a high of 15.5 percent.

The textile sector has been formally exempted from load shedding, as uninterrupted gas and power supply to the sector, is the top priority of government, he stated.

Though EU has formally not demanded any list of items intended for inclusion in duty free access list, but then they have forwarded a list including value-added textile items to EU, and have urged to include towel and knitwear, bed linen or garments under Chapter 61 and 62, he said.

The official further divulged that, whereas home textiles constitute to be a major export item of Pakistani exports to EU, EU has not incorporated bed linen or home textile and such other items in the tariff-free list.

Fibre2fashion News Desk - India

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