End of 5% RD to pick up value-added garment exports.

LAHORE -- Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has said the government's right decision of removing 5% Regulatory Duty on import of cotton yarn will accelerate value-added garment exports as the country's exports have started showing recovery from the corona pandemic crisis, reporting a positive growth for the third consecutive month in Nov to $2.16 billion, up 7.67%.

PRGMEA vice chairman Adeeb Iqbal Sheikh, referring to the recent monthly data published by the Pakistan Bureau of Statistics for the first four months of the current financial year, stated that the textile and clothing export shipments are back on growth path both in terms of quantity and dollar value.

He said that the increase in exports is mainly driven by sizeable growth in proceeds from value-added textile commodities.

Exports in the new fiscal year started on a positive note but witnessed a steep decline of 19% in Aug 2020 before rebounding in...