LAHORE
\nThe Pakistan Hosiery Manufacturers and Exporters Association (PHMA) has expressed concern over the decline in Pakistan\u2019s exports to European markets despite enjoying preferential trade access under the Generalised Scheme of Preferences Plus (GSP+), urging the government to take immediate measures to restore export growth and protect the country\u2019s competitive position.
\nPHMA North Zone Senior Vice Chairman Izhar-ul-Haq said the decline in exports to key European destinations was a matter of serious concern, particularly when the country had been granted preferential market access to strengthen its trade relations with the European Union.
\nHe said the latest export performance highlighted the need to address structural weaknesses affecting Pakistan\u2019s export-oriented industries, including high energy tariffs, expensive financing, heavy taxation, delayed refunds and inconsistent government policies.
\nHe observed that Pakistan\u2019s overall exports to European countries had declined despite the availability of GSP+ benefits, indicating that preferential tariff access alone was insufficient to ensure competitiveness in international markets. Exporters needed a supportive domestic business environment to translate these trade concessions into higher shipments and foreign exchange earnings.
\nIzhar-ul-Haq said the value-added textile and hosiery sector was particularly vulnerable to rising production costs because international buyers had several alternative sourcing destinations and remained highly sensitive to prices.
\nHe pointed out that Pakistani manufacturers were competing with regional countries that offered comparatively favourable business conditions, lower financing costs and more predictable industrial policies.
\nHe stressed that expensive electricity, gas and working capital were increasing manufacturing costs and making it difficult for local exporters to compete with international suppliers.
\nHe urged the government to ensure regionally competitive energy tariffs for export-oriented industries, rationalise taxation and provide affordable financing facilities to manufacturers so they could maintain their market share and secure new international orders.
\nThe PHMA leader said Pakistan\u2019s GSP+ status remained an important advantage for the country\u2019s textile and apparel exporters, but its full potential could only be realised through improved industrial competitiveness and effective government facilitation.
\nHe said the government must ensure that exporters received timely tax refunds, easier access to export financing and a stable policy framework to support long-term investment.
\nHe also stressed that increasing competition in the European market, particularly following developments in India\u2019s trade relations with the EU, required Pakistan to strengthen its export strategy and protect its existing market share.
\nHe said preferential market access could not compensate for higher production costs and policy uncertainty, adding that exporters needed a level playing field to compete effectively with regional rivals.
\nIzhar-ul-Haq said Pakistan should focus on expanding value-added hosiery, knitwear and apparel exports rather than relying excessively on traditional textile products.<\/p>\n","protected":false},"excerpt":{"rendered":"
LAHORE The Pakistan Hosiery Manufacturers and Exporters Association (PHMA) has expressed concern over the decline in Pakistan\u2019s exports to European markets despite enjoying preferential trade access under the Generalised Scheme of Preferences Plus (GSP+), urging the government to take immediate measures to restore export growth and protect the country\u2019s competitive position. PHMA North Zone Senior […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-576727","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"\n