March 19 (Agencies) Despite the economic crunch, the present government has started taking interest to provide a relief to redress garment sector SMEs liquidity crisis.
In a major development, Federal Minister for Commerce Syed Naveed Qamar has given nod to the apparel exporters to resolve
the issue of liquidity crunch faced by the SMEs. It would not be out of place to mention here that blockage of sales tax refunds
has become a serious concerns for the exporters.
The Ministry of Commerce also attended an important session along with Defence Minister Khawaja Aasif and TDAP Director General Shahzad Ahmed Khan in this regard. The exporters from all industrial export-oriented sectors shared their fast increasing problems in the industry.
Minister for Commerce
Syed Naveed Qamar promised to arrange a meeting
with the officials of Federal Board of Revenue (FBR) the days to come.
Qamar vowed that the present government was committed to providing a level-playing field and reducing the cost of doing business for export-oriented sectors including textile whole chain.
He also shared the roadmap
formulated for the Textiles and Apparel Policy 2020-2025, which will address matters including value addition etc.
He urged that there was a need to attract investment in the textile and apparel sector to enhance our manufacturing capacities.
International Apparel Federation (IAF) regional chief and ex-chairman of the PRGMEA Ijaz Khokhar, in his welcome address, presented core demand of PRGMEA to establish Sialkot Garment City like Lahore and Faisalabad’s ones, the approval of which is already a part of textile and apparel policy 2020-25.
Pakistan Rupee Exchange Rate