Home / Knowledge / News / Textiles / Frame export-friendly policies: PTEA to new govt
Frame export-friendly policies: PTEA to new govt
28
May '13
The Pakistan Textile Exporters Association (PTEA) has urged the new incoming PML-N Government to formulate new policies to boost the country’s exports.
 
A new policy designed by taking all stakeholders into confidence could boost the country’s textile exports from present US$ 13 billion to US$ 20 billion, PTEA chairman Ashgar Ali and vice chairman Muhammad Asif said in a statement.
 
A new export-friendly policy would not only aid revival of waning industries, but would also rejuvenate the stumbling economy, the duo said, and urged the Federal Board of Revenue (FBR) to aid in designing new export-friendly policies, rather than posing roadblocks in the way of the industry.
 
They suggested that the Government can study policies of other export facilitating countries in the region like China, India and Bangladesh, while framing a policy for Pakistan.
 
Energy shortage, excessive tax burdens, high rate of interest and jammed tax refunds have not only stagnated the growth and exports of the country’s textile industry, but have also put a question mark on their viability, the statement said.
 
While accentuating the need for prioritizing the economy, the statement said that it would be highly impossible for Pakistan to achieve growth without reviving its waning economy.
 
Calling energy crisis as the main barrier in industrial growth, Mr. Ali said the Government should prioritize ensuring unrelenting energy supply to the textile industry, which has an export turnover of US$ 13-14 billion, and employs around 15 million workers. 
 
According to industry analysts, power cut of up to 18 hours and gas outages for four days per week has compelled the textile industry in Pakistan to operate at only half the capacity, and rendered several workers jobless.
 
Several powerlooms, which form the base for the textile sector, were forced to cease operations due to continued power cuts, Mr. Ali said.
 
Urging the new Government to bring down high rates of interest, he said the country’s textile sector is geared up to make new investments as soon as it witnesses growth-friendly financial environment.
 

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

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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