PHMA urges early announcement of ‘Textile Package’

PHMA urges early announcement of ‘Textile Package’

PHMA News

KARACHI: Pakistan Hosiery Manufacturers and Exporters Association (PHMA)
has demanded the Prime Minister to immediately announce the most-awaited
textile package which was promised by him to bring the textile industry out of crisis.

PHMA Chairman Adil Butt made this demand through a letter written to
the PM Nawaz Sharif.

“The textiles in general and value-added apparel sector in particular
are becoming uncompetitive in international market,” he also said and further
added that the export of textile is continuously on the decline for the
last few years while their competing countries like Bangladesh, India,
China and Vietnam are on the rise in these sectors.

“Not only our share in the global market is shrinking and going to
other countries but also the unit price of our products is decreasing which has
reduced profitability for Pakistani exporters,” he further elaborated.

Furthermore, Adil Butt also urged the Prime Minister to rescue this vital sector of
economy and announce the promised relief package already prepared by his government.

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