In order to ensure sustenance of the local textile industry in the prevailing economic recession, the Government should take immediate steps, both on administrative and diplomatic front, to earn a greater duty free access for Pakistani items in the US and Europe, the Pakistan Textile Exporters Association (PTEA) has said.
PTEA Chairman Rana Arif Tauseef said that due to energy crisis and a fall in demand, textile exporters in the country are finding it difficult to obtain international orders. According to official statistics, textile exports in the initial 10 months of the current fiscal that began on July 1, 2011 witnessed a 9.6 percent fall over last fiscal's exports.
At present, Pakistan is experiencing critical financial situation, which is giving rise to industrial instability, poverty and dissatisfaction. Energy shortage has curtailed the production capacity of a number of textile sub-sectors to almost half, he mentioned.
The productivity of the industry is suffering significantly due to energy crisis. Moreover, the cost of production has also gone up due to continuous hike in electricity and gas charges. This has reduced the Pakistan textile industry's competitiveness in world market, he said.
In Punjab province, industries were suffering an estimated loss of Pk Rs. 1 billion per day due to power crisis, the PTEA Chairman said.
He stated that in the greater interest of the economy and the textile industry, it is necessary for the Government to expedite its efforts to earn duty free access to the EU and the US markets.
Pakistani textile exports surged significantly during the three-year period, when it was granted duty free access to the US as it was on America's front-line in the war against terror, he added.
Fibre2fashion News Desk - India
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