Industry asked to produce exportable surplus
With smooth energy supply, textile exports will grow, says PTEA
PHOTO: REUTERS
FAISALABAD:
The Pakistan Textile Exporters Association (PTEA) has welcomed the prime minister’s timely intervention for restoring gas supply to zero-rated exporting industries.
With uninterrupted energy supply, the textile industry would be able to achieve a sizeable growth in exports, which would in turn help strengthen the national economy, it said.
Textile sector: PTEA demands immediate release of duty claims
In a statement, PTEA Chairman Khurram Mukhtar praised the premier for taking immediate notice of the cut in gas supply to the industries, adding the move had enhanced confidence of the business community and such business-friendly policies would definitely give a boost to the trade and industry.
“Interruption in gas supply has always driven the industry in reverse gear and has adversely affected textile production, which is mainly meant for exports,” he said and emphasised that focus on industrialisation should be the prime target of the government.
Terming the value-added textile sector the main engine of growth, Mukhtar underlined the need for producing exportable surplus in the country. “For this purpose, a continued energy supply is the need of the hour,” he added.
Talking about energy subsidy for export-oriented sectors, he assured the government that the textile industry would work for a prosperous Pakistan by ensuring maximum growth in exports. Highlighting the importance of the textile sector, Mukhtar pointed out that the textile industry had an overwhelming impact on the economy with 57% share in exports and 8.5% in gross domestic product (GDP).
He urged the government to extend full support to the major industries contributing to betterment of the economy.
PTEA Vice Chairman Muhammad Idrees demanded that the government release blocked tax refunds, which had caused trouble for textile exporters, making them unable to keep their export markets.
Minister vows govt will steer textile industry out of crisis
On the other hand, he said, regional competing countries were rapidly multiplying their exports just because of the edge they had in the cost of doing business.
“Pragmatic policies need to be framed in consultation with stakeholders in a bid to reduce the cost of doing business by fixing prices of inputs in line with competing countries in order to create a level playing field,” he suggested.
Published in The Express Tribune, December 14th, 2018.
The Pakistan Textile Exporters Association (PTEA) has welcomed the prime minister’s timely intervention for restoring gas supply to zero-rated exporting industries.
With uninterrupted energy supply, the textile industry would be able to achieve a sizeable growth in exports, which would in turn help strengthen the national economy, it said.
Textile sector: PTEA demands immediate release of duty claims
In a statement, PTEA Chairman Khurram Mukhtar praised the premier for taking immediate notice of the cut in gas supply to the industries, adding the move had enhanced confidence of the business community and such business-friendly policies would definitely give a boost to the trade and industry.
“Interruption in gas supply has always driven the industry in reverse gear and has adversely affected textile production, which is mainly meant for exports,” he said and emphasised that focus on industrialisation should be the prime target of the government.
Terming the value-added textile sector the main engine of growth, Mukhtar underlined the need for producing exportable surplus in the country. “For this purpose, a continued energy supply is the need of the hour,” he added.
Talking about energy subsidy for export-oriented sectors, he assured the government that the textile industry would work for a prosperous Pakistan by ensuring maximum growth in exports. Highlighting the importance of the textile sector, Mukhtar pointed out that the textile industry had an overwhelming impact on the economy with 57% share in exports and 8.5% in gross domestic product (GDP).
He urged the government to extend full support to the major industries contributing to betterment of the economy.
PTEA Vice Chairman Muhammad Idrees demanded that the government release blocked tax refunds, which had caused trouble for textile exporters, making them unable to keep their export markets.
Minister vows govt will steer textile industry out of crisis
On the other hand, he said, regional competing countries were rapidly multiplying their exports just because of the edge they had in the cost of doing business.
“Pragmatic policies need to be framed in consultation with stakeholders in a bid to reduce the cost of doing business by fixing prices of inputs in line with competing countries in order to create a level playing field,” he suggested.
Published in The Express Tribune, December 14th, 2018.