Textile sector continues hue and cry

Exporters, industrialists irked by lack of gas supply.

FAISALABAD: The textile industry has sounded the alarm over the massive closure of industries due to gas supply cut or reduction in the existing 33% gas quota for export-oriented textile sector in the coming months.

Textile exporters and industrialists of the textile city together condemned the gas closure for the coming winter season on Tuesday.



Pakistan Textile Exports Association (PTEA) Chairman Sohail Pasha termed the proposed gas closure plan as a deliberate attempt to shatter the whole industrial chain. He urged the government to step up and rescue the foreign exchange earnings from the textile industry and its exports from the current state of turmoil as challenges such as energy crisis and liquidity crunch are holding the economy back.

He expressed grave concern over the continuous decline in exports and apprehended further loss in case the energy and financial crisis persists.

Giving details, he said that country’s exports slid 10.16% while textile exports dropped by 4% during the first quarter of the current fiscal year compared to the same period of the previous year. In July, textile exports were down by 2.37%, in August 8.38% and in September were 1.16% on a year-on-year basis.

Naveed Gulzar of All Pakistan Textile Mills Association said businessmen are repeatedly showing concerns over the situation, but unfortunately all of its hue and cry was falling on deaf ears of policymakers.

Published in The Express Tribune, October 29^th, 2014.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.