He said the time has come for the formulation of a long term export-led growth policy and its implementation in letter and spirit unlike the previous policies which remained unmet and only 15% implementation of it was made possible. He said there is an immediate need of removal of upfront incidentals on import of raw materials short for industry consumption, i.e., cotton and polyester staple fibre, release of all outstanding refunds of sales Tax and DLTL etc. and enablers for investment for the installation of greenfield and technology upgradation projects.
He urged Prime Minister Imran Khan to chair regular meetings of the textile industry stakeholders to monitor policy implementation as well as performance of investment and exports. He added that policy implementation should be the focus of the economic managers of the country that would enable the industry and exports to grow at more than 10-15 percent per annum without interruption and yield precious foreign exchange to mitigate trade deficit.
He said the industry has regained confidence with the positive response from the government towards its demands and is poised to recapture its lost share in the global marketplace in the days to come.