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Pakistan govt to prioritize resolving textile sector woes
06
Nov '13
The Pakistani Commerce and Textile Ministry is making all the efforts to bring the textile sector of the country back on track by redressing the problems faced by the sector on a priority basis, said secretary of Textile Industry Division of the Ministry Rukhsana Shah during her recent visit to the Pakistan Textile Exporters Association (PTEA).
 
Addressing the country’s textile manufacturers and exporters, the secretary of Textile Industry Division said that all stakeholders would be taken on board for true exploitation of expected market access following the Generalized Preference System Plus (GSP+) status due to be attained from the European Union (EU) in the coming days.
 
Ms. Shah said the Government of Pakistan is fully aware of the problems faced by the textile sector and is working towards addressing these issues and finding proper alternatives.
 
The secretary said the anticipated GSP+ status would provide an impetus to the value-added textile exports to EU, generating significant economic activity in the country and helping Pakistan to build up its capacity to become more effective and competitive in international markets.
 
PTEA chairman Sheikh Ilyas Mahmood elucidated the secretary regarding the main problems creating a hindrance for the sector especially the fact that many domestic textile exporters are caught up in the drawback of local taxes, sales tax, customs rebate, and federal excise duty refund.
 
If the amounts are released, several exporters can deploy the capital towards expanding their businesses, which in turn would help Pakistan’s export earnings to grow, he added.
 
Ms. Shah assured that the country’s Textile Industry Division will make all efforts for immediate payment of pending refund claims of textile exporters and that all stakeholders will be taken on board while making policies directly or indirectly influencing the textile industry, especially its value addition sector.
 

Fibre2fashion News Desk - India

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