KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) and the Pakistan Hosiery Manufacturers Association (PHMA) have called on the government to establish business-friendly trade and textile policies for the next five years. They emphasized that these policies should include practical measures, unlike the unfulfilled initiatives from the 2020-25 period.

According to a statement by Karachi Chamber of Commerce and Industry, during a meeting between PHMA officials and KCCI, leaders Muhammad Jawed Bilwani and Muhammad Babar Khan stressed the need for refining key policies set to expire this year. They urged for consultations with stakeholders, including various export associations, to create comprehensive frameworks.

Central Chairman PHMA Babar Khan highlighted the crucial role of the EU's GSP Plus status in boosting Pakistan's competitiveness. He urged collective efforts to ensure its continuation and adherence to international commitments, including human rights conventions.

The meeting also addressed challenges such as high tariffs and resource crises, which affect the competitiveness of Pakistani products. KCCI and PHMA pledged cooperation to tackle these issues and improve the business environment.

President KCCI Jawed Bilwani invited PHMA to contribute to budget proposals and emphasized the importance of the textile sector to Pakistan's economy. He called for sustainable policies to address sector challenges and enhance global competitiveness.

The meeting concluded with both organizations reaffirming their commitment to collaboration and a unified vision for industry growth.