Business

KARACHI (APP) – Minister for Commerce Khurram Dastagir Khan, has said here on Thursday that the export of Pakistani ready made garments has increased in the international market.

After performing the inauguration of the 15th Textile Asia 2016 Exhibition at the Expo Centre Karachi, he told media that prices of Pakistani ready made garments have also increased in the international market.

The Minister further stated that from July 1 the value added tax would become zero. Khurram Dastagir was of the view that the holding of this event would be beneficial for the local textile industry and that there would be enhancement in the country’s exports.

He said that the display of the modern machinery will also benefit this very sector and those associated with the industry would also enhance their capacity.

He pointed out that for the development of the country’s textile industry, Prime Minister Nawaz Sharif had announced reduction in the power tariff.

SM Muneer, Chief Executive of Trade Development Authority of Pakistan (TDAP) along with Shaikh Muhammad Shafiq, Chairman PRGMEA and Dr. Khursheed Nizam President, Ecommerce Gateway Pakistan, were also present on the occasion.

The event was jointly organized by the Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) and Ecommerce Gateway Pakistan.

PRGMEA Central Chairman Shaikh Muhammad Shafiq welcomed the Minister on the occasion. He further said that this trade fair is expected to be visited by 65,000 people from trade and corporate sector as well as more than 550 foreign delegates.

He said that the focus of this trade fair is value addition in Textile industry to increase the export of our value-added textile and garment products.

This three-day textile trade fair has been termed as the Pakistan’s biggest B2B textile, garment, embroidery, digital printing machineries and chemical and allied services. More than 550 International Brands will display their products in over 700 Booths and Over 500 foreign delegates from 27 countries mainly from Austria, China, Czech Republic, France, Germany, India, Italy, Korea, Taiwan, Turkey, UK, USA etc. will attend the event.

President Ecommerce Gateway Pakistan Dr. Khursheed Nizam said that Textile Asia is the only UFI (Paris) approved Textile trade fair in South Asia, which showcases immense buying selling potential of textile, garment and allied industries and poised to introduce overseas suppliers of textile and garment materials, accessories and parts and machinery to the textile and garment industry of Pakistan and complement their efforts for high quality, value added products and assist them to further develop their business in the export markets.