Muhammad Saleem

Making the stakeholders from the knitwear industry part of the committee set up to review the Export Facilitation Scheme (EFS) can help boost exports and create jobs.

Speaking to WealthPK, Hazar Khan, Vice-Chairman of the Pakistan Hosiery Manufacturers & Exporters Association (PHMA), said that knitwear was a major sector of the national economy, generating billions of dollars of foreign exchange and providing jobs to millions. “We are adding value to products, making them attractive and driving up their prices.

As a result of this value addition, industries’ scores are directly or indirectly linked to the knitwear sector. However, this segment has not been given representation in the EFS review committee,” he lamented. “Upon learning that the knitwear sector was not made part of this key body, I approached the prime minister through a formal letter, urging him to include the sector in the committee.

Despite the passage of over two weeks, we are still waiting for a response from the government,” he said. “We are in the dark about what forced the government to sideline the knitwear sector from a body formed to strengthen the national economy through attracting investments,” he regretted. He questioned how policies could be successful when genuine stakeholders were excluded from their formation.

The PHMA vice-chairman pointed out that the composition of the EFS review committee raised concerns, which were explicitly outlined in a letter sent to the prime minister on March 1. “We represent the hosiery and knitwear industry, and its earnings statistics speak volumes about its contribution to the national economy,” he added. He said the PHMA was striving to foster economic growth, generating employment.

Hazar Khan stressed that the textile sector, particularly the knitwear industry, has the capacity to boost Pakistan’s exports and create jobs. “However, he regretted how the association can play its role if it is excluded from the decision-making bodies.” “The potential of the knitwear sector is immense. With proper support, it can help boost foreign exchange and provide employment opportunities,” he added.

The PHMA vice-chairman urged the government to reconsider the composition of the EFS review committee. “We are a major taxpayer, the largest employment provider in the textile sector, and a key source of foreign exchange earnings, strengthening the national economy,” he underscored.

Credit: INP-WealthPk