KCCI, PHMA Call For Export, Business Friendly Policies To Drive Economic Growth

(@ChaudhryMAli88)

KCCI, PHMA call for export, business friendly policies to drive economic growth

The Karachi Chamber of Commerce and Industry (KCCI) and the Pakistan Hosiery Manufacturers Association (PHMA), Tuesday, urged on framing pro-business Strategic Trade Policy Framework (STPF) and Textile and Apparel Policy for the next five years along with effective implementation procedures

KARACHI, (UrduPoint / Pakistan Point News - 21st Jan, 2025) The Karachi Chamber of Commerce and Industry (KCCI) and the Pakistan Hosiery Manufacturers Association (PHMA), Tuesday, urged on framing pro-business Strategic Trade Policy Framework (STPF) and Textile and Apparel Policy for the next five years along with effective implementation procedures.

During the visit of PHMA delegation to KCCI, President KCCI Muhammad Jawed Bilwani and Central Chairman PHMA Muhammad Babar Khan highlighted the urgency of refining these critical policies in consultation with key stakeholders, including KCCI, PHMA, and various export associations, to ensure comprehensive and effective frameworks, said a statement issued here.

Central Chairman PHMA Babar Khan noted that EU’s GSP Plus status has been instrumental in improving competitiveness of Pakistan in multiple product categories while it has ensured a steady flow of business from the EU to Pakistan, with over 50 percent of Pakistan’s exports directed to the EU since the grant of GSP Plus status.

He also stressed on fulfilling international commitments and obligations under the human rights convention and all other conventions to which the country is a signatory.

He also sought KCCI’s support in addressing common challenges, including gas, electricity, and water issues affecting cost of doing business, and pledged PHMA’s full support and cooperation with KCCI in all future initiatives aimed at creating an enabling business environment and reducing longstanding hardships faced by the business community.

Additionally, he requested the inclusion of PHMA representatives in the KCCI Exports Subcommittee and other important subcommittees, noting that PHMA represents the largest export share of the country.

President KCCI Muhammad Jawed Bilwani, while recognizing PHMA’s contributions to promoting Pakistan’s exports globally, invited PHMA to submit its budget proposals to KCCI for inclusion in the KCCI Budget Proposals 2025-26.

While reiterating KCCI’s commitment to supporting PHMA in addressing longstanding challenges faced by its members, Bilwani highlighted the critical role of textiles and apparel in Pakistan’s economic stability and growth, urging the government to prioritize this sector in policy-making and resource allocation.

Highlighting textile sector's significant contribution in economy, exports and job creation he underscored the need of sustainable and inclusive policies that address the sector’s challenges, from infrastructure issues to international compliance.

He also emphasized the need for improved collaboration among industry players to ensure the sector remains competitive globally.

The meeting concluded with both organizations reaffirming their dedication to fostering a collaborative environment for the betterment of Pakistan’s textile and export sectors.

The participants agreed that achieving a unified vision and concerted efforts would lead to sustainable growth and prosperity for the industry.

Zonal Chairman (South) PHMA Faisal Arshad Sheikh, Senior Vice President KCCI Zia ul Arfeen, Vice President KCCI Faisal Khalil Ahmed, Former Chairman PHMA Abdul Jabbar Ghajian, Zonal Vice Chairmen (South) PHMA Bashir Ghaffar and Salman Ishaq and KCCI Managing Committee Members, along with other PHMA delegates were also present at the meeting.