PM urged to declare Sialkot a value-added city

LAHORE: The Pakistan Readymade Garments Manufacturers and Exporters Association has proposed to Prime Minister Imran Khan to declare Sialkot as a value-added city, as it is a hub of small and medium enterprises (SME) sector, contributing $2.5 billion foreign exchange by adding a multi-fold value addition in garments, sports goods, surgical goods, musical devices, cutlery, leather garments, gloves, handmade badges and military uniforms.

Sialkot is the only city in the whole Asia where business community has built its own airport and now it is going to launch a private airline-‘Airsial’, which will help spur export growth from this city.

The PRGMEA Central Chairman Sohail Sheikh and Chief Coordinator Ijaz Khokhar observed that it is the fourth largest value-added garment city in Pakistan, therefore the prime minister is requested to also announce a ‘garment city’ for Sialkot in line with the garment cities of Karachi, Faisalabad and Lahore.

Addressing a meeting here to discuss and finalise the meeting agenda with the members, to be presented to the PM on his forthcoming visit to Sialkot, both leaders of PRGMEA pledged that Sialkot, after establishment of garment city, will be able to increase garment export in three-fold to $1.5 billion from the current figure of $530 million.

“We appreciate the PM as well as Adviser to PM on Commerce and Investment Abdul Razak Dawood for incorporating our several major demands in forthcoming textile policy and hope that rest of the proposals will also get their serious consideration before its final approval from the cabinet,” the central chairman said.

He said that all PRGMEA members welcome speedy disbursement of sales tax refunds under faster plus system, DLTL refunds, customs rebate being deposited directly into the bank, cut in power tariff for SMEs and reduction of interest rate to 7 percent, which would ultimately lead to an aggressive sale in future and hopefully gear up the export in 2021.

Ijaz Khokhar observed that the SBP’s relief measures, including temporary economic refinance facility for machinery imports, is very encouraging and good for industrial expansion. “The PRGMEA appreciates the efforts of the PM to cut power tariff for SMEs.”