Pakistan govt to prioritize resolving textile sector issue

While addressing the textile industry representatives, Minister Abbas Khan Afridi assured that he would pursue for the restoration of zero-rating status for the textile sector on the basis of no payment—no refund formula, reports APP.

Minister Afridi urged textile exporters to suggest measures for the betterment of the textile industry, and stated that though the Government was trying its best to overcome the energy and gas-related problems, the stakeholders must also play their roles for resolving these issues.

At the meeting, chairman of Council of All Pakistan Textile Association Zubair Motiwala said the country’s trade deficit could be reduced to a great extent in a short span of time provided the Government took serious steps to resolve the issues being faced by the value-added textile sector.

Mr. Motiwala requested the Government to grant subsidy to the exporters who had to bear heavy losses in the wake of depreciation of the dollar’s value, as well as help reduce production cost for manufacturers.

Meanwhile, the PHMA has asked the Government to facilitate duty-free yarn import from India in order to circumvent cartelization by the local spinning industry. PHMA central chairman Shahzad Azam Khan said during the meeting that the imposition of import duty on raw materials such as yarn from India will negatively impact the apparel export sector.

Fibre2fashion News Desk - India