Textile sector seeks support to fully utilise GSP Plus

akistan Hosiery Manufacturers Association (PHMA) leadership has vowed that the value-added textile industry will work closely with the new government in a bid to enhance exports and rejuvenate the growth momentum. In a statement, PHMA Zonal Chairman Farrukh Iqbal asked the government to provide its backing for the value-added apparel sector, so that it could utilise its potential to reap benefits of the GSP Plus preferential trade facility and provide mass employment to the jobless population. “Exports to EU countries have started dropping, which is a matter of grave concern,” he said. Iqbal hailed the recent government move to release Rs65 billion worth of verified pending tax refunds of exporters until February 2024. “This is a welcome move from Prime Minister Shehbaz Sharif and we appreciate him along with his team, as this will definitely boost the confidence of exporters and encourage the export sector.”