Home / Knowledge / News / Textiles / Cash-strapped Pak textile exporters seek govt help
Cash-strapped Pak textile exporters seek govt help
06
Apr '16
Hit by cash crunch, Pakistani textile exporters have urged the government to immediately intervene to check drastic fall in exports by immediately releasing the outstanding refunds of textile exporters.

In a statement, Pakistan Textile Exporters Association (PTEA) chairman Asghar Ali said that extreme cash flow crunch is a major cause of export decline. He appealed to the government to take steps to rescue the ailing textile industry.

“There is a capital blockage for textile exporters as their major capital remains stuck in sales tax, custom duty drawback and income tax refund cycle, causing a major dent to textile exports,” he said.

The PTEA chief criticised the current refund regime, pointing out that refunds of exports made 12 months earlier were still unpaid. While appreciated the announcement of payment of refund claims up to Rs 5 million as a positive development, he said that under the current refund regime, affected claimants were not in a position to utilise liquidity, which they normally do four times in a year for manufacturing and exporting of consignments.

Another PTEA leader Ahmad Kamal said government should bail out the textile industry and textile exports sector from the crisis by removing hurdles. He also demanded immediate release of blocked refunds.

Kamal said the situation is ominous for exporters because rising production costs have rendered many of them incapable of competing in the international market. To keep the industrial wheel running and provide jobs, it was imperative to facilitate optimum industrial activity, he added. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Mohammad Hassan
Biax Fiberfilm

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Yash P. Kotak
Bombay Hemp Company

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search