English Press Release 31.05.2018

FAISALABAD. Faisalabad Chamber of Commerce & Industry (FCCI) has welcomed the extension in Prime Minister Export Package for next three years, adding that it will help in bridging gap between imports and exports which is a prerequisite to further strengthen the national economy on sustained basis.

Commenting on the decision of economic coordination committee to extend the date for the PM Export Package to June 30, 2021, Mr. Shabbir Hussain Chawla President FCCI said that the dwindling export was a question mark on the economic performance of the government who has been claiming to stabilizing economy on sound footings. He told that textile is the mainstay of the national economy and as Faisalabad alone is contributing 55% in the total textile export of Pakistan; its positive as well as negative impacts are immediately felt by the business community of Faisalabad.

He told that realizing the declining trend in textile exports, FCCI has been demanding government to take immediate remedial steps which were delayed due to multiple reasons. However, government realized the gravity of this situation and was forced to announce PM Export Package in order to save the economy from total collapse. He told that this package yielded positive results and hence the textile export is gradually picking up during the last few months. The exports is increasing but the fear of disruption  of export package due to the election process had precipitated concerns among the business community who was demanding continuity of this package in greater national interest. He said that government has rightly decided to extend this package for next 3 years so that exporters could fully concentrate on the export of textile products. Mr. Chawla has thanked Prime Minister Shahid Khaqan Abbasi terming the extension in export package as a parting gift from the present government.

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