FAISALABAD: Pakistan has lost one-third of its share in the international market, contrary to its competitors who have gained ground and doubled their market share over the past 12 years, say textile exporters.
They have blamed acute energy shortages and liquidity crunch for the decline in Pakistan’s share in global trade. They have asked the government to address these issues on priority, which will stem the negative growth, improve the fragile foreign investment environment and put the country’s economy back on track.
Speaking to the media here on Wednesday, Pakistan Textile Exporters Association (PTEA) Chairman Asghar Ali said textile exporters were under financial strain as billions of rupees were stuck with the government in sales tax refund, duty drawback and Drawback of Local Taxes and Levies (DLTL) scheme.
He said persistent law and order problems and the energy crisis had also badly affected industrial and trade activities, productivity as well as job opportunities for workers.
According to PTEA officials, Pakistan’s share in global trade fell to 0.14% in 2011 from 0.21% in 1999 despite government’s claims that exports had increased manifold during the period.
On the contrary, Indian share in global trade rose from 0.67% to 1.28% in the same period despite global recession. Even Bangladesh doubled its share in the international market from 0.06% to 0.14%, equal to Pakistan’s share.
The textile manufacturers said Pakistan was the only country that had a stagnant global market share, though the government had taken a number of measures for liberalising imports. Exports of the country fell to $23.64 billion in 2011-12 from $24.82 billion in 2010-11, a decline of 4.75%.
Published in The Express Tribune, November 15th, 2012.