Falling exports: PTEA terms high energy prices impediment to growth    

Says extreme cash flow crunch and high energy prices are hampering export growth


Imran Rana March 01, 2017
Says extreme cash flow crunch and high energy prices are hampering export growth. PHOTO: STOCK

FAISALABAD: Pakistan Textile Exporters Association (PTEA) Chairman Ajmal Farooq and Vice Chairman Muhammad Naeem said that the extreme cash flow crunch and high energy prices are hampering export growth and adversely impacting the industry.

“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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COMMENTS (1)

bogus | 4 years ago | Reply high energy prices are hampering export growth . The old complaint was "lack of power" - now the complaint is high price for energy. Makes you wonder whether the $40 Billion spend on "no bid" Chinese power plants is going to help or hurt Pakistan? One thing for sure - the powerful Textile moguls are going to make sure that they get the best rates and the most power .... that leaves the Pakistani taxpayers to shoulder the burden of the new power plants.
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