PRGMEA urges government 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% in fiscal 2018-19 to US$ 18 billion.

The value-added textile exporters want the government to formulate separate policies for various sub-sectors to resolve their sector-specific issues, PRGMEA Senior Vice Chairman Sheikh Luqman Amin stated.  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.

 

 
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