KARACHI, July 16: The acting chairman of All Pakistan textile Mills Association (Aptma) Iqbal Ibrahim has drawn the government’s attention towards an export package recently announced by the Indian Commerce Minister for his country’s export business that has come under pressure because of the appreciation in international exchange value of Indian rupee.

Under the package nine sectors have received special attention where DEPB rates have been increased by 3 per cent to nine per cent. These sectors include textile handloom, readymade garments, leather products, handicrafts, engineering products, processed agricultural products, marine products, sports goods and toys.

For the rest of the items the DEPB rates have been increased by 2 per cent. The premium rate on export credit guarantee scheme has been reduced by 2 per cent, the rates of duty drawback on various exports have been increased by 10 to 40 per cent, Rs6 billion has been released to clear all arrears of terminal excise duties and the rates of interest on pre and post-shipment credit have been reduced by 2 per cent.

Mr Ibrahim”s statement comes about 48 hours before the formal announcement of Pakistan’s new Trade policy on Wednesday and indicates the expectations of textile business from the government.

The Aptma leader recalled the issues of the textile industry raised by the association before the government. In response, he said, the measures taken by the government were inadequate.

Mr Ibrahim reminded the government that for next five years the Bangladesh government had fixed a target of $14.5 billion a year, India $50 billion and China $220 billion. On the other hand Pakistan’s textile industry has failed to meet its 2006-07 export target.

He said a report on global textile reveals that those countries that targeted value-added sector fared well, while Pakistan struggled for exporting raw material and low-value textile items and is lagging behind.