Sluggish growth in exports concerns -PTEA

The Pakistan Textile Exporters Association (PTEA) has expressed grave concern over sluggish growth in exports as unending export downfall has continued unabated. The high cost of production, competitiveness, inconsistency in government policies and uncompetitive energy prices have contributed to this crisis-like situation.

Chairman Pakistan Textile Exporters Association Mian Ajmal Farooq said that economy's mainstay textile industry is facing unprecedented crisis since many years. Consequently, sizeable textile capacity had been severely impaired and textile exports, both in quantity and value terms had declined across the value chain; whereas regional peers have doubled their exports.

He said unfortunately, government has not feeling the undeniable pain of the fall in export earnings as sliding exports are contributing significantly to the trade deficit. He termed the erosion of textile industry's competitiveness as major factor behind the downfall, particularly against the huge incentives being provided by the competing countries to their export sectors.

 

 
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