Textile sector declines

Letter November 29, 2016
Many textile owners are winding up their businesses

FAISALABAD: Textile exports show a decline of 12.11 per cent during the year due to the shortage of electricity and the delay in disbursement of export refund claims. Textile exports have been declining for the last two years despite obtaining preferential market access to the European Union. Export has declined to $8.36 billion during the year. The government is showing bleak performance in the export sector, especially because it has failed to reap the benefits of the Generalised System of Preferences Plus status that it achieved from the European Union. The country is facing tough challenges in the international market. The government should concentrate on textile exports. Many textile owners are winding up their businesses and moving to other countries because Pakistan is not offering friendly policies to the sector.

Mian Muhammad Ahmad Shafique

Published in The Express Tribune, November 30th, 2016.

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