‘Adequate gas, tax rebate PTEA’s top priority’

Textile exporters losing internationally due to recession, tough competition.

FAISALABAD: “Uninterrupted gas supply to industries and release of outstanding refund amounts will be treated as top priorities to enable textile exporters to retain their export markets at the time of severe recession and tough competition,” said Asghar Ali, newly elected chairman of the Pakistan Textile Exporters Association (PTEA) at the annual general meeting of the lobby.

Speaking on the occasion, he said that textile was a major contributor to the national economy but the sector was suffering due to prevailing economic, financial and industrial crisis in the country as well as energy shortfall, high bank mark-up rate, shortage of raw materials and persistently worsening law and order situation. The productivity is going from bad to worse, he added.

The government should facilitate exports by announcing suitable funds for export development initiatives, he said. Unavailability of duty-free market access to EU and US was another hurdle on the path of growth for textile exports. He emphasised the unity of value-added textile lobby to force the government to focus on consolidation and strengthening of economy and uplifting the industrial productivity in the country.

He said that billions of rupees in tax rebates were stuck up with various governmental departments creating liquidity crunch and hampering export growth and turnover. Special efforts will be done to overcome these problems, he assured. He appreciated the successful efforts of the outgoing chairman.

Published in The Express Tribune, October 2^nd, 2012.