Home / Knowledge / News / Textiles / Exempt Pak textile sector from load shedding: LCCI
Exempt Pak textile sector from load shedding: LCCI
07
Feb '12
Lahore Chamber of Commerce and Industry (LCCI) and Federation of Pakistan Chambers of Commerce and Industry (FPCCI) have sought exemption of the country's textile industry from load shedding, to take maximum advantage of the €900 million trade waiver offered by the World Trade Organization (WTO).

In addition, FPCCI has also asked the Government to rollback the recent hike in prices of fuels like gas to save the domestic industry from irreversible loss and to strengthen the country's economy.

In a joint statement SAARC CCI Vice President Iftikhar Ali Malik, LCCI Senior Vice President Meher Kashif Younis and FPCCI President Senator Haji Ghulam Ali demanded that the Government should prioritize industrial and agricultural sectors, particularly the textile industry, to benefit from the two year WTO waiver, and thereby to boost their competitiveness in world markets.

The trio urged the Government to ensure uninterrupted power and gas supply all through the year, particularly for the textile sector, to facilitate economic development and to boost export earnings.

Subsistence of a nation largely depends on a sound economy, and hence the Government should streamline its load shedding policy, allowing the textile sector to prosper, the officials said.

According to SAARC CCI VP Mr. Malik, increase in prices of gas, petroleum and power would further distress the producers, who are already suffering due to gas and power outages.

He added that high prices have resulted in liquidity crunch for industrial raw material importers, and in view of the current world trade situation, banks should cut their high mark up rates to bring them in single digit to boost the industry.

LCCI Vice President Saeeda Nazar, Senior Vice President Meher Kashif Younis and Executive members Mian Waqar Ahmad and Aftab Ahmad Vohra said power and gas shortages coupled with a rise in prices would further put pressure on the textile industry, which is already grappling with high mark up rate.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Lynda Kelly
Suominen Corporation

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

Mark Paterson
Technical Absorbents Ltd

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mike Hoffman
Gildan Activewear SRL

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

July 2017

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

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

Yes No

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

Yes No

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


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



X