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 18th Jan 2017

China lays out plan to boost foreign investment

The Government of China has outlined measures to boost foreign...

Prime Minister Theresa May speaking on the UK government's negotiating objectives for exiting the EU. Courtesy: UK government

Textiles | On 18th Jan 2017

UK to pursue trade agreements with other countries

The United Kingdom will pursue free trade agreements with the EU and...

Courtesy: IMF

Textiles | On 18th Jan 2017

Risks to global growth outlook skewed to downside: IMF

Risks to the global growth outlook are two sided but are assessed to...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Urs Stalder
Sanitized AG

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mike Hoffman
Gildan Activewear SRL

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

Jay Ramrakhiani
Occasions Elegance Wear

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
January 2017

January 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