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PHMA for giving EPB quota holdings to genuine exporters

RECORDER REPORT

KARACHI: The Pakistan Hosiery Manufacturers Association (PHMA) has suggested that present quota holdings of the Export Promotion Bureau (EPB) be given to genuine exporters who present their shipment documents and also do not hold the same category quota in their books or have exhausted it.

The association said that in a statement issued on Wednesday the EPB had announced auction of quota of all the categories, this announcement included the premium as well as the quantities available for the first auction of the year with the EPB.

The announcement has directly struck on the basis of the government's policy objective of curbing quota trading and manipulation.

The quota brokers will certainly quote even higher premium price, so that the quota price in the market increases manifolds and they can trade their existing quota holdings at exorbitant prices.