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Govt urged to reduce cost of doing business for textiles
22
Jul '11
To counter the rising cost of carrying out business brought about by the recent Budget, the All Pakistan Handloom and Traditional Textiles Manufacturers and Exporters Association (APHTTMEA) Chairman Muhammad Aasim Shah has urged the Government officials to intervene in the matter and take immediate measures to reduce the cost of doing business and bring it to an equitable level.

Mr. Shah said that the Government needs to rescue the value-added textile sector from troubles, as it is the biggest foreign exchange earning industry for the country contributing nearly 67 percent of the same.

He added that the current gas and power shortages are a matter of grave concern for the textile industry, as it is not only causing the industry to suffer heavy production losses, but even to lose its traditional global export markets.

Further, he asked Prime Minister Yousaf Raza Gilani and President Asif Ali Zardari to extend the research and development concessions given to exporters for at least another four years.

He said, such an extension would help bring down the cost of doing business to reasonable levels, as tax and ERF rates are higher in Pakistan as compared to other countries.

He cited that the textile industry contributes around 27 percent in industrial value-addition and accounts for 38 percent of the employment in the industrial sector.

Hence, he said, continuous power outages which pose a serious threat to the textile sector are equally detrimental for the national economy as well.

Besides, low productivity is also holding back the exporters from fulfilling their export commitments, he added.

In view of this, Mr. Shah recommended that the Government should consider utilizing hydel power resources through construction of water reservoirs and power generation units, which is a more economical mode of energy generation.

He even stressed that Pakistan too should look for alternative energy sources, taking a cue from other countries. He cited examples of Germany, which generates over 21,000 MW and India, which generates 7,000 MW of power, with the help of wind energy.

Fibre2fashion News Desk - India

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