Incentives package hailed
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.