Pakistan Working On 5-Yr Strategic Trade Policy Frame Work
Pakistan’s export growth is being hindered by high cost of business and issues of market access and exchange rate, but the government has been working on a five-year strategic trade policy framework to resolve these problems, commerce secretary Younus Dagha said recently at the launch of the International Apparel Federation (IAF) membership in Lahore.
The local currency has already been devalued by around 10 per cent to maintain the exchange rate so that exports could be enhanced, he said.
The extension offered by the European Union for the generalised system of preferences (GSP) plus benefit has helped increase exports of value-added textile products by up to 90 per cent, leading to a growth of 13 per cent between July last year to February this year, a Pakistani newspaper report quoted him as saying.
Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) senior vice chairperson Sheikh Luqman Amin said though the government had given assurance to clear all pending claims, more and more refund claims are piling up.