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

Apparel/Garments | On 23rd Jun 2017

Alfredo Grassi to develop graphene-enhanced workwear

Alfredo Grassi, manufacturer of customised protective clothing,...

Textiles | On 22nd Jun 2017

Zund unveils cradle feeder roll-feed system for fabrics

Zund Systemtechnik AG, Switzerland’s textile machinery firm that...

Courtesy: Napapijri

Apparel/Garments | On 22nd Jun 2017

Napapijri's Superlight Parka is free of fur and down

Napapijri has introduced the new Superlight Parka, a new lightweight...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Larry L Kinn
Suominen Corporation

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

news category


Related Categories:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search