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APTMA submits budgetary proposals to lawmakers
13
Apr '18
The All Pakistan Textile Mills Association (APTMA), in its budgetary proposals submitted recently, urged the Pakistani Government to boost the textile sector by focussing on exports through a three-pronged strategy — making available affordable electricity and gas, rationalising tariffs in the textile value-chain and encouraging investment to create export surplus.

Export driven growth is imperative for creating jobs, reducing current account deficit and attracting local and foreign direct investment, Pakistani media reports quoted APTMA as saying.

Electricity cost at Rs.11.40/kWh is at present unrealistically high and is inflated due to elements of cross subsidy and theft in the system, according to the association.

Electricity should also be made available at the same rate across the country, APTMA observed. Punjab, the prime textile hub, gets gas at Rs 1300/MMBtu, whereas, for the rest of the country, it is available at Rs 600/MMBtu.

As domestic cotton production is not enough to meet local demand, imposing duty on cotton imports makes little sense. Incentives should also be offered to farmers to enhance cotton productivity, it said.

The increasing trend in the import of synthetic yarn is adversely affecting its local production. Imposing 15 per cent regulatory duty on its import will provide some breathing space for its local production, APTMA said.

Facilities like refunds and long-term financing facility (LTFF) available to exporters should be extended to local manufacturers that sell goods directly to exporters. This is the standard practice even in developed countries and will encourage sale within the value-chain for producing textile goods for export, the association added. (DS)

Fibre2Fashion News Desk – India


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