Falling exports: PTEA terms high energy prices impediment to growth
Says extreme cash flow crunch and high energy prices are hampering export growth
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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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.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.