FPCCI identifies problems being faced by textile sector

The research and development department of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has identified various problems being faced by textile sector including high cost of doing business, approximately 11% multiple taxes and surcharges. This has been pointed out in a detailed document prepared by the research department of FPCCI on the issues of Pakistan's exports.

The study was conducted with the consultation of Export Advisory Committee of FPCCI which was formed in compliance of Prime Minister Directives to submit proposals for enhancing export from Pakistan. In this context, low production of cotton bales, limited implementation of government announced support in STPF and textile package, higher utility and raw materials costs to the textile sector are also discussed by interested parties.

The report contains issues of the export oriented sectors including textile sector which has largest share in Pakistan's exports. The report in textile section highlighted the area of concern that is Pakistan's competitors have set targets for textile exports while Pakistan far behind them. Bangladesh set target to achieve textile exports worth US $60 billions, India set target to increase export by US $30 billions, while Pakistan's total exports has decreased from US $25 billion to US $20 billion in which textile sector share is more than 60 percent.

 

 
Copyright 2018 Ptj.com.pk   Design: PTJ Graphics