Textile exporters in Pakistan have expressed their disappointment over the Government's failure to take adequate measures to address their issues in the Federal Budget for 2012-13.
None of the numerous issues troubling the textile exporters in the country have been satisfactorily addressed by the Federal Government in the new Budget, Pakistan Textile Exporters Association (PTEA) Chairman Rana Arif Tauseef claimed.
Commenting on the budgetary measures for the country's textile industry, the PTEA chief said the Government rightly identified energy crisis, withholding tax on exports and outstanding duty drawback claims as the three major issues concerning the industry, but has failed to find out a permanent solution to address these issues.
According to Mr. Tauseef, the Budget is filled with discrepancies, improper allocation of funds and misplacement of priorities. The formulators of the Budget have failed to understand the key issues that are troubling the economy, and have not considered them while formulating strategies to address these issues, he said.
He said it is highly disturbing that against their demand for Pk Rs. 30 billion for clearing duty drawbacks, the Government only sanctioned Rs. 10 billion under the 'Export Development Fund'.
Instead of allocating the fund to ease the difficulties of the textile sector, the Government has given these funds to the Trade Development Authority for using it on foreign tours and exhibitions.
Cautioning about another looming gas crisis, Mr. Tauseef said the Government has not taken any feasible measures to ensure continuous gas supply for the industry and the country would face a severe gas crisis within the next three months.
Also, expressing discontent over unsatisfactory allocation of only Rs. 183 billion to overcome the problem of electricity load shedding, the PTEA chief stated that no less than Rs. 500 billion needs to be allocated to the foreign exchange earning textile industry to help it beat the shortfall in production due to power and gas outages.
Fibre2fashion News Desk - India
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