Home / Knowledge / News / Apparel/Garments / Woven garment exporters face acute liquidity crunch
Woven garment exporters face acute liquidity crunch
27
Aug '11
The woven garment exporters are facing acute liquidity crunch, as payment of billions of rupees is stuck up with government departments on account of rebate, customs drawback and sales tax refunds, said Chairman Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA) North Zone Mubashar Naseer.

He said it is becoming financially unviable for a large number of woven garment exporters to survive amidst severe financial pressure. He further added that another Rs 23.42 billion is stuck up as claims under the Duty Drawback of Local Taxes & Levies (DLTL) Scheme.

Chairman PRGMEA said both customs drawback and sales tax is supposed to be computerized and it should be released automatically as per schedule. However, no payment of stuck up claims is made by the concerned departments so far.

According to him, the indifferent attitude of government policymakers is worrisome for the exporters, who are already exposed to severe energy shortage in the country. He said the PRGMEA delegations have made presentations to the respective authorities time and again but to no avail.

It may be noted that the woven garment exports have registered about 40 percent growth during 2010-11, while doubling the average unit price, excessively utilizing expensive fabrics in different weights and employing 30 percent of total 3.5 million workforce of textile industry value chain.

Chairman PRGMEA has urged the government to ensure release of stuck up funds of the woven garment industry without any further delay to keep its growth momentum intact.

Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA)

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search