Boosting exports and industrial growth: Federal Minister Haroon Akhtar Khan meets PHMA delegation at FCCI

Faisalabad 10 Oct (DIGITAL ITLA): Advisor to the Prime Minister and Federal Minister for Industries and Production, Mr. Haroon Akhtar Khan, visited the Faisalabad Chamber of Commerce & Industry (FCCI) to hold a high-level consultative meeting with representatives of the Pakistan Hosiery Manufacturers & Exporters Association (PHMA). The delegation included PHMA North Zone Chairman Mian Farrukh Iqbal, Central Chairman Syed Zia Alamdar Hussain, and Former Chairman Kashif Zia. Discussions centered on expanding textile exports, escalating industrial input costs, and resolving systemic logjams faced by exporters.

Mian Farrukh Iqbal emphasized that Pakistan’s diplomatic missions and commercial counsellors abroad must be proactively utilized to showcase domestic products in international markets. He pointed out that while substantial public resources fund these missions, bureaucratic delays in communication often hinder effective export matchmaking. He urged the government to optimize commercial diplomacy, streamline engagement with international buyers, and foster a business-friendly ecosystem to sustain export momentum.

Syed Zia Alamdar Hussain highlighted the crushing financial burden on the industrial sector over the past four years, noting a 70% spike in electricity tariffs and a 100% surge in gas prices, alongside a 48% increase in minimum wage and social security obligations. He contrasted this with the decline of the US dollar exchange rate from around PKR 315 to PKR 277, which has eroded exporters' profit margins and global competitiveness. Furthermore, he urged the government to reinstate the Drawback of Local Taxes and Levies (DLTL) facility at 6% to 8% for the value-added textile sector.

Kashif Zia briefed the meeting on a major logistical breakthrough involving Inditex, a premier global retail group. He explained that current cargo shipments to Europe transit via Doha and Dubai, but recent stakeholder discussions and subsequent airport audits—conducted to meet European Union aviation standards—aim to introduce direct cargo freighter flights from Lahore and Karachi. Acknowledging the dedicated efforts of Ministry of Commerce officials, including Rana Ehsan Afzal and DG Textiles Mudassar Raza Siddiqui, he noted that this milestone will dramatically cut transit times and enhance export logistics.

Federal Minister Haroon Akhtar Khan appreciated the constructive proposals put forward by the PHMA leadership. He assured the delegation that inter-ministerial follow-up sessions would be convened shortly to address core industrial grievances and formulate practical policies to bolster Pakistan's export economy.