PRGMEA discusses stuck up payment of PM package with minister

F.P. Report

ISLAMABAD: Chairman Central, Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA), Shaikh Mohammad Shafiq, discussed the stuck up payments of PM package Duty Drawback of Taxes Order 2017-18 with Mr. Muhammad Pervaiz Malik, Commerce Minister and Mr. Mohammad Younus Dagha, Federal Secretary Commerce.

Shaikh Mohammad Shafiq, Chairman Central, Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) brief about the facts that The Textile and Clothing Industry has been the main driver of the economy for the last 50 years in terms of foreign currency earnings and jobs creation.

He also pointed out the severe cash flow crunch has squeezed the productivity resulting in reduced exports as billions of rupees are blocked.

Both Secretary and Minister, assure that they are doing their best to overcome these issue and informed that government has leased Rs. 5 billion to State Bank of Pakistan for the payment of  DDT PM package scheme and will release another Rs. 6 Billion by the next week and special tariff for Textile is also in the process.

High cost of doing business were also discussed, The Minister express his point that the export is increased, which Shaikh Mohammad Shafiq totally refuse, and said that I have a different point of view, if we cross the export by 25 Billion $ then is said to be increased. Shaikh Mohammad Shafiq also enquired about the time barred cases, Mr. Mohammad Younus Dagha, Federal Secretary Commerce assure that they will also consider the same.

Shaikh Mohammad Shafiq also had a meeting with Mr. Ahsan Iqbal the Federal Minister for Ministry of Planning, Development & Reform at Islamabad on Friday 9th March, 2018.

The project of establish 1000 Industrial Stitching Units were discussed there. Chairman PRGMEA said that by setting up 1000 Industrial Stitching Units in Pakistan will encourage the value addition. It believes this will result additional $20 billion in export potential in a year.

He further said that we have full confidence in Mr. Ahsan Iqbal’s ability and expertise to uplift the economy. However, the government needs to provide a conducive environment by reducing cost of inputs to achieve export targets and special strategy may be formulated to strengthen Pakistani brands in the international market as well as support local SMEs to develop their own brands locally as well as in international market. Small schemes may be launch, to re-initiate with more vigor and government support.