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Govt stated to make road map to boost exports to $30bn.

Economic growth is the key to generate employment opportunities, counter inflation and steer economic prosperity, said Pakistan Textile Exporters Association (PTEA) Chairman Khurram Mukhtar.

Speaking at a meeting on Friday, he urged the government to set a road map for the next four years to produce robust economic activity and boost exports to $30 billion in a bid to fulfil prime minister's vision of economic prosperity.

Terming entrepreneurs and the business community invaluable asset of the country, he pointed out that no meaningful economic development was possible without their involvement, co-operation and active input in formulation of economic policies.

"Government should take all possible initiatives to restore the confidence of businessmen and investors to magnify export growth," said Mukhtar. "At present, only 100 textile units out of 3,500 are maintaining growth, whereas no level playing field is available for the small and medium enterprises (SME) sector."

He was of the view that Punjab's textile export industry had the infrastructure, potential and opportunities to enhance exports by $2 billion and generate 100,000 new jobs within the next two years if an enabling environment was provided to it.

The PTEA chairman underlined the need for serious and well-planned efforts to expand value-addition especially in the textile sector for capturing higher share in regional and international markets.

Presenting recommendation for the economic road map, he stressed for liquidation of stuck up refunds of exporters, which amounted to Rs160 billion in different refund regimes.

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Publication:Pakistan & Gulf Economist
Article Type:Brief article
Geographic Code:9PAKI
Date:May 5, 2019
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