PRGMEA ask government to take preventive measures for textile export
LAHORE: Pakistan Readymade Garment Manufacturers and Exporters Association (PRGMEA) has cautioned the government to address the issues of value-added textile sector, as the drop in exports may widen further due Vietnam-EU FTA.
PRGMEA Chief Coordinator Ijaz Khokhar asked the government to take preventive measures, following the EU and Vietnam reaching a free trade agreement, as the emerging economy could capture Pakistan’s export market, which has already decreased due to high energy cost, discriminating import duties on the industry’s raw material and a decline in cotton production.
He said that the exports of textile and clothing have been declining sharply during the last six months along with low cotton yield in Punjab. PRGMEA chief coordinator asked PM Nawaz Sharif to personally direct the policy makers for reduction in all input costs otherwise the export-oriented industries would not only close down their operations but millions of workers would also lose their jobs. He said that the PM had committed to hold meetings with export-oriented industries on quarterly basis but no such meeting was held so for.