Home / Knowledge / News / Textiles / Exempt Pak textile sector from load shedding: LCCI

Exempt Pak textile sector from load shedding: LCCI

07
Feb '12
Lahore Chamber of Commerce and Industry (LCCI) and Federation of Pakistan Chambers of Commerce and Industry (FPCCI) have sought exemption of the country's textile industry from load shedding, to take maximum advantage of the €900 million trade waiver offered by the World Trade Organization (WTO).

In addition, FPCCI has also asked the Government to rollback the recent hike in prices of fuels like gas to save the domestic industry from irreversible loss and to strengthen the country's economy.

In a joint statement SAARC CCI Vice President Iftikhar Ali Malik, LCCI Senior Vice President Meher Kashif Younis and FPCCI President Senator Haji Ghulam Ali demanded that the Government should prioritize industrial and agricultural sectors, particularly the textile industry, to benefit from the two year WTO waiver, and thereby to boost their competitiveness in world markets.

The trio urged the Government to ensure uninterrupted power and gas supply all through the year, particularly for the textile sector, to facilitate economic development and to boost export earnings.

Subsistence of a nation largely depends on a sound economy, and hence the Government should streamline its load shedding policy, allowing the textile sector to prosper, the officials said.

According to SAARC CCI VP Mr. Malik, increase in prices of gas, petroleum and power would further distress the producers, who are already suffering due to gas and power outages.

He added that high prices have resulted in liquidity crunch for industrial raw material importers, and in view of the current world trade situation, banks should cut their high mark up rates to bring them in single digit to boost the industry.

LCCI Vice President Saeeda Nazar, Senior Vice President Meher Kashif Younis and Executive members Mian Waqar Ahmad and Aftab Ahmad Vohra said power and gas shortages coupled with a rise in prices would further put pressure on the textile industry, which is already grappling with high mark up rate.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Ritu Manoj Jethani / Shutterstock.com

Apparel/Garments | On 31st Jul 2021

US firm Steve Madden moves production to Mexico & Brazil from China

As supply chain disruption remains a significant challenge, American...

Pic: GBG USA

Apparel/Garments | On 31st Jul 2021

Apparel & footwear firm GBG USA files for bankruptcy protection

GBG USA, an indirect wholly owned subsidiary of Global Brands Group...

Pic: Shutterstock

Apparel/Garments | On 31st Jul 2021

Asian garment industry market concentration, consolidation rise: ILO

Although Asia's garment market rose in size in value terms before the ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Great step towards realising end goal of 'AtmaNirbhar Bharat'

Textile Industry, Head honchos

Textile Industry
Head honchos

Multi-functional garments will be next big thing

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Erwin Devloo,

Erwin Devloo

The Picanol Group is a diversified industrial group active worldwide in...

Kriti Kanodia,

Kriti Kanodia

A TV show in 2012 where actor Sonam Kapoor customises her own pair of...

Richard Armitage,

Richard Armitage

Adaptive Control automates, controls and monitors machines, systems and...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Seth Casden, Hologenix

Seth Casden
Hologenix

Hologenix is a material sciences company dedicated to developing products...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

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

Leave your Comments


July 2021

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


Advanced Search