With the ongoing energy crisis, Aptma is looking to protect around 15 million textile workers, which are directly or indirectly attached with the industry. PHOTO: FILE
Speaking at a press briefing, he said that the industry contributes heavily to GDP, foreign exchange earnings and employment, but declining exports have taken a toll on the economy.
However, he said that the industry is poised for a reversal of the situation. “Policy measures for export-led growth lend a helping hand in the realisation of this industry objective,” said Fayyaz.
These policy measures include the elimination of customs duty on cotton from January 2017, duty-free import of raw materials like manmade fibre not manufactured domestically and graduating drawbacks of local taxes on yarn among other measures. These measures will remove the bottlenecks in competitive operation of the textile industry.
Published in The Express Tribune, November 12th, 2016.
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