Garment industry critical of federal budget
12/06/2008
Representatives of the leather garments industry in Pakistan have criticised the provision the government has made for the leather industry in its federal budget for 2008–2009.
Mr Fawad Ijaz Khan, chairman of the Pakistan Leather Garments Manufacturers and Exporters Association (PLGMEA) said in a statement that although the budget for 2008–2009, announced on June 11 was “good for the poor people of Pakistan” and also for the agricultural sector but that it offered nothing for the export sector in Pakistan.
He stated that the governor of the country’s central bank (the SBP) had assured him in a meeting last month that the condition of a 35% cash margin on letters of credit for import would be withdrawn for industrial raw materials for the leather industry but this did not happen.
Mr Fawad has requested other export associations to take part in a protest march in the capital, Islamabad.
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