Karachi, May 02, 2016 (PPI-OT):Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) central chairman Shaikh Mohammad Shafiq, in a statement said that the government has set export target of $35 billion to be achieved during next three years through Strategic Trade Policy Framework (STPF) 2015-2018 and improvement in export competitiveness, on the other hand export is continue declining, and break the highest decline record of 32 years.
This decline is only for the reason of high cost of production; due to increase in the energy costs as compare to our competitive countries and exporters are unable to compete with their competitors. The tariff rates of electricity for industry and commercial concerns are considerably higher in Pakistan than competing countries basically due to over 50% line losses and theft.
Pakistan ranks 138 out of 189 on ease of doing business, while last year it was 136. Shafiq continued to cite the high cost of doing business, saying that it has started hitting the textile industry severely, which is evident from the growing number of factory closures in the sector. He further said that Oil prices declined internationally but here in Pakistan industry is not getting relief.
For more information, contact:
Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA)
3rd Floor, Plot No. 57-C, 24th Commercial Street,
Phase II (Ext), DHA, Karachi, Pakistan