PRGMEA Urges Pak Govt To Declare ‘Export Emergency
Attributing Pakistan’s growing trade deficit to low exports, the Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has urged Prime Minister Imran Khan to declare an ‘export emergency’ in the country to tackle the decline in the exports sector. Pakistan’s current account deficit rose by more than 40 per cent in fiscal 2018-19 to $18 billion.
Most prime ministers were seen only forming committees to address the problem, PRGMEA senior vice chairman Sheikh Luqman Amin lamented.
Value-added textile exporters want the government to formulate separate policies for various sub-sectors to resolve their sector-specific issues, Pakistani media reports quoted Amin as saying.
He hoped that the new government would initiate dialogue with the textile sector representatives to receive their inputs for policy formulation.
Outstanding refunds, high cost of business, issues of market access and exchange rate are hindering the country’s exports growth, he added