20000411

Woven garment

exports to grow

10 percent by 2003

MUZAFFAR QURESHI

KARACHI: The exports of woven garments are likely to grow by10 percent annually from 2001 to 2003 followed by 20 percent rise in the years 2004 and 2005 provided the export friendly environment continues in the country and abroad.

The growth projections for the next five years (2001-2005) have been submitted to the Export Promotion Bureau by Pakistan Readymade Garments Manufacturers and Exporters Association (Prgmea) and Pakistan Cotton Fashion Apparel (PCFA) in response to the query about export projections for the year beginning from 2001 to 2005.

Giving details of the export projections, Javed Chinoy, Central Chairman, Prgmea, said that the export figure for the first eight months of the current year (July 99-Feb 2000) is $493.267 million which represents a 14.21 percent increase over the same eight months of the fiscal year 1998-99. This gives a monthly average of 61.66 million dollars. The highest export figure for woven garments in recent years was 747 million dollars in 1997-98.

The export projections worked out by the two associations in million dollars are: 1999-2000(760); 2000- 01 (835);2000-02 (920); 2000-03 (1010); 2000-04 (1215) and 2000-05 (1500).

He said that the projections for increase in exports in the remaining period of current fiscal year are based on the trend in the US market, gradual end of recession in the European markets and improvement in economies of Far East and Japan.

Javed Chinoy of Prgmea and Yaqoob Ahmed of PCFA have forecast that the rising trend in our textile and clothing is likely to continue. In the quota countries in which 30 % of our total textile and clothing export is made quota ceilings are increasing at substantially higher growth rates year on year.

The two association listed a series of measures to be adopted by the government to provide a conducive environment for growth of exports. These include one window operation for collection of all taxes and fixation of a percentage to be deducted from exports at source; removal of export development surcharge and stamp duty; curtailing paper work on shipments. The whole idea is to help exporters to save time and devote their energies towards expanding their business.