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

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Top executives
Textile industry

GST has levelled the playing field to an extent

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Urmil Arya

Sushila International, a well established textile organisation established ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Karan Arora
Karan Arora

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

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

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

Leave your Comments


April 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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