Home / Knowledge / News / Textiles / Pak textile exporters hail proposal to slash GID surcharge
Pak textile exporters hail proposal to slash GID surcharge
03
Sep '12
The Pakistan Petroleum Ministry’s proposal to slash the gas infrastructure development (GID) surcharge by 50 percent has been welcomed by the textile exporters of the country.
 
The textile exporters believe that the reduction in GID surcharge would help them reduce the cost of production of exportable goods, said Rana Arif Tauseef, Chairman Pakistan Textile Exporters Association (PTEA).
 
Mr. Tauseef said textile industry is the only ray of hope for revival of the nation’s economy, which is presently in doldrums owing to high cost of doing business.
 
Exporters from countries with low energy cost and where producers enjoy special exemption are extending tough competition to the country’s textile industry at international front, he added.
 
The high gas tariffs have also impacted the value-added textile industry of Pakistan, owing to which textile and garment exports from the country slumped from previous fiscal’s US$ 13.78 billion to US$ 12.35 billion during last fiscal, he said.
 
Energy crisis was the main reason for fall in textile exports as 40 percent of the industry’s production capacity remained underutilized or unutilized, Mr. Tauseef said and called on the Government to ensure regular and adequate supply of power and gas to the textile industry in broader interest of the industry as well as textile exports.
 
He said to tap better growth, the Government should ensure regular supply of power and gas to the industry, reduce utility tariffs, reduce interest rates to single digit and improve law and order situation in the country, so as to allow the national economy to experience a turnaround.
 

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 28th Feb 2017

Delta Galil's Q4 operating profit jumps 80%

In the three months to December 31, 2016, operating profit at apparel ...

Textiles | On 28th Feb 2017

Over 100 exhibitors expected to participate in IATF

Over a 100 exhibitors are expected to showcase their products at the...

Apparel/Garments | On 28th Feb 2017

Q4FY17 operating income drops 8% at L Brands

Operating income at apparel brands marketer L Brands decreased 8 per...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Urs Stalder
Sanitized AG

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mark Paterson
Technical Absorbents Ltd

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sonam & Paras Modi
SVA

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search