Adil Butt, Chairman Pakistan Hosiery Manufacturers and Exporters Association (PHMA) has lauded the Prime Minister for announcing the long awaited Export Package. In a statement issued here on Wednesday he said, although too late, but this positive step of the government will help the whole Textile Sector which had become uncompetitive in the international market due to higher cost of production in Pakistan as compared with our competiting countries.
The benefit of GSP Plus move from the European Union had been virtually nullified due to our in competiveness as compared with 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 had thrown a big blow on the face of industry and thus the exporters to European countries had to bear big losses. The export package will provide support to the dwindling apparel export sector and can put it on right track.