Textile industry: Exporters ask govt for bailout

Association chairman expresses concerns over stuck up amounts of exporters on account of refunds of sales tax.

FAISALABAD: Pakistan Textile Exporters Association (PTEA) demanded the government to bailout the textile industry and exporters from the current crisis by removing hurdles and provision of necessary incentives to expand economy, create new jobs and to generate foreign exchange for the country, said PTEA Chairman Asghar Ali on Tuesday. Pinpointing the various bottlenecks plaguing textile exports, he said that most ticklish issue was the rising cost of production as prices of raw materials and inputs like gas, electricity and petroleum products skyrocketed making local products uncompetitive in the international market. He expressed concerns over stuck up amounts of exporters on account of refunds of sales tax, custom rebate and drawback on local taxes and levies regime.

Published in The Express Tribune, October 17^th, 2012.