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PRGMEA hails EU decision to retain GSP+ status for Pakistan
01 Mar '18
2 min read
Welcoming the European Union decision to retain the generalized system of preferences (GSP) plus status for Pakistan, the Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has stressed the need for an aggressive marketing plan, besides implementing the prime minister’s export package to maximise benefits from the decision.
PRGMEA senior vice chairman Sheikh Luqman Amin said Pakistan almost failed to take full advantage of the GSP plus benefit granted in 2014, primarily due to the indifferent attitude of the government departments towards the country’s textile sector, according to Pakistani media reports.
He said about half of the exporters are yet to receive refunds under the previous package of former Prime Minister Nawaz Sharif as the central bank’s regional branches, which deal with more than 70 per cent of value-added textile exporters based in Punjab, are not ready to speedily process their cases.
Another key challenge is the tax regime and custom clearance procedures. The industry is subjected to a higher duty on raw materials compared to other countries, which makes the final product more expensive.
Due to cumbersome customs procedures and high duties on import of cotton yarn, artificial fibres and PTA, the garment industry has been unable to move from the existing cotton concentrated 80:20 mix to the globally-demanded 50:50 mix in its exports, he added. (DS)
PRGMEA senior vice chairman Sheikh Luqman Amin said Pakistan almost failed to take full advantage of the GSP plus benefit granted in 2014, primarily due to the indifferent attitude of the government departments towards the country’s textile sector, according to Pakistani media reports.
He said about half of the exporters are yet to receive refunds under the previous package of former Prime Minister Nawaz Sharif as the central bank’s regional branches, which deal with more than 70 per cent of value-added textile exporters based in Punjab, are not ready to speedily process their cases.
Another key challenge is the tax regime and custom clearance procedures. The industry is subjected to a higher duty on raw materials compared to other countries, which makes the final product more expensive.
Due to cumbersome customs procedures and high duties on import of cotton yarn, artificial fibres and PTA, the garment industry has been unable to move from the existing cotton concentrated 80:20 mix to the globally-demanded 50:50 mix in its exports, he added. (DS)
Fibre2Fashion News Desk – India
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