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APTMA says Pak textile exports continue to stay dismal
04 Jan '17
1 min read
By quoting export figures from the Pakistani textile industry, All Pakistan Textile Mills Association (APTMA) chairman Aamir Fayyaz informed that textile exports continued to remain gloomy for the 2016 calendar year. He said exports from the sector dipped by a further $600 million this year, primarily due to the high cost of doing business.
According to Fayyaz, as per the current trend, overall Pakistani exports are also forecast to decline $1.2 billion, due to which an impetus is required from the government to arrest the trade deficit which has risen to unmanageable level of $28.3 billion.
Pakistani media reports quoted him as observing that the trade deficit can be bridged only if the government puts a focus on export growth policy initiatives.
“The textile industry is rendered uncompetitive in international markets due to the unrealistically high energy cost, particularly in the state of Punjab, which is home to nearly 70 per cent of the Pakistan textile sector,” he stated.
Fayyaz also attributed the situation to the government’s decision to impose higher duties on import of textile raw materials and other levies like sales tax and withholding tax. (AR)
According to Fayyaz, as per the current trend, overall Pakistani exports are also forecast to decline $1.2 billion, due to which an impetus is required from the government to arrest the trade deficit which has risen to unmanageable level of $28.3 billion.
Pakistani media reports quoted him as observing that the trade deficit can be bridged only if the government puts a focus on export growth policy initiatives.
“The textile industry is rendered uncompetitive in international markets due to the unrealistically high energy cost, particularly in the state of Punjab, which is home to nearly 70 per cent of the Pakistan textile sector,” he stated.
Fayyaz also attributed the situation to the government’s decision to impose higher duties on import of textile raw materials and other levies like sales tax and withholding tax. (AR)
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