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Textile export grows 3.55% by March

May '07
Central Board of Revenue (CBR) reports revealed that country's textile export has increased from $8.92 billion in 2004-05 to $10.11 billion in 2006-07.

The National Assembly Standing Committee (NASC) on Textile, while attending a meeting with members of Textile Ministry and officials of Ministry of Food Agriculture and Livestock (MINFAL), on May 19, was informed that total export during July to March period of 2004-05 was $7.55 billion, which saw a growth of 3.55 percent during the same period of present fiscal year.

The committee was also informed about the issues faced by textile industry in the presence of their Chairman, Ch. Nazir Ahmed Jatt.

The rise in utility tariffs has increased the cost of business, high interest rates and cost of finance has affected investment and liquidity and lack of quality product which is needed to capture international market.

According to a CRB member, the board is trying hard to facilitate the business community and exporters and develop latest software to provide fastest refund facilities to its clients.

Attending Minister of Textile Industry, Mushtaq Ali Cheema stressed on the need of financial sector to take serious steps, to keep the industry out of crisis and bring a stability and progress for it.

The NASC was informed by officials MINFAL that research work is going on to develop world best cotton seed for higher production of clean cotton in the country.

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