Pakistan Textile Exporters Association (PTEA) chairman Khurram Mukhtar recently urged the government to set a four-year road map to generate robust economic activity and boost exports to $30 billion to fulfil the prime minister’s vision of economic prosperity. Economic growth is the key to generate jobs, counter inflation and steer economic prosperity, he said.
As only 100 textile units out of 3,500 are witnessing growth now and no level-playing field is available for small and medium enterprises, the government should initiate steps to restore the confidence of businessmen and investors to magnify export growth, he said.
Punjab’s textile export industry has the infrastructure and potential to enhance exports by $2 billion and generate 100,000 jobs within the next two years if a conducive environment is offered, Pakistani media reports quoted Mukhtar as saying.
Offering recommendation for the economic road map, he requested that the credit limit under Long Term Financing Facility (LTFF) be raised from Rs 102 billion to Rs 200 billion and the Export Finance Scheme (EFS) ceiling be raised from Rs 226 billion to Rs 400 billion.