In­cen­tives pack­age hailed

Enterprise - - National news -

Pak­istan Hosiery Man­u­fac­tur­ers As­so­ci­a­tion (PHMA) Chair­man Adil Butt has lauded the prime min­is­ter for an­nounc­ing the long-awaited in­cen­tives pack­age for the ex­port sec­tor, a state­ment said.

This would make the en­tire tex­tile sec­tor com­pet­i­tive in the in­ter­na­tional mar­ket, he added. The benefit of GSP Plus move from the Euro­pean Union had been vir­tu­ally nul­li­fied due to Pak­istan’s non-com­pet­i­tive­ness as com­pared to Bangladesh, In­dia, Sri Lanka and par­tic­u­larly Viet­nam.

Now, hope­fully the value-added ap­parel ex­port sec­tor will pick up and stand on its feet. The de­clin­ing euro has thrown a big blow on the face of the in­dus­try and; thus, the ex­porters to Euro­pean coun­tries had to bear huge losses, he added.

The ex­port pack­age will pro­vide sup­port to the dwin­dling ap­parel sec­tor and can put it on the right track, he added.

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