All Pakistan Textile Manufacturers Association Chairman SM Tanveer has lamented the inordinate delay in the notification issuance for Technology Up-gradation Fund Scheme (TUFS), hindering the industry from undertaking BMR and fresh investment initiatives for the textile Industry.
According to Tanveer, the federal government has withheld the notifications of initiatives under the Textile Policy 2014-19, to avail the terms of TUFS.
He said the textile industry has already lagged behind the region on the front of technology and machinery up-gradation.
Consequently, serious structural imbalances have occurred across the textile value chain, as 25% of the basic textile worth $4 billion is being exported annually without converting into garments due to the non-existence of backward and forward linkages to add value up to $15 billion exports, said the APTMA chief.
Published in The Express Tribune, April 1st, 2015.