Says extreme cash flow crunch and high energy prices are hampering export growth. PHOTO: STOCK
“Exports are falling consistently both in value and quantities; the government needs to immediately intervene to check the drastic downfall in exports,” said Farooq. They termed a severe liquidity crunch and high energy prices as the major cause of export decline. They appealed to the government to rescue the ailing textile industry.
“Massive working capital of textile exporters has been held in sales tax, custom rebate and income tax refund regime, increasing the financial stress of textile exporters who are unable to enhance their export turnover.”
Published in The Express Tribune, March 1st, 2017.
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