Import policies in Pakistan need to be relaxed as benefits of the renewed generalised system of preferences (GSP) plus status can only be accrued by maximum value-addition in finished products and not be merely exporting raw materials, Pakistan Hosiery Manufacturers and Exporters Association (PHMA) chairman Khurram Anwar Khawaja recently said.
Urging the government to abolish all duties and taxes imposed on polyester yarn so that knitwear and sportswear manufacturers can compete in the international market, Khawaja stressed upon the role of value-added apparel sector to harvest maximum benefits of GSP Plus, according to a Pakistani news agency report.Import policies in Pakistan need to be relaxed as benefits of the renewed generalised system of preferences (GSP) plus status can only be accrued by maximum value-addition in finished products and not be merely exporting raw materials, Pakistan Hosiery Manufacturers and Exporters Association (PHMA) chairman Khurram Anwar Khawaja recently said.#
Raw cotton exports from the country between July 2017 and February this year grew by 38 per cent over the corresponding period in the previous year.
The GSP window led to abundant export orders, which the industry cannot execute if its liquidity problem is not resolved by the government at the earliest.
Anti-dumping duty was also imposed on polyester fully-drawn yarn, which is not manufactured in Pakistan, he added. (DS)
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