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The State Bank of Pakistan (SBP) allowed the textile sector to get refinanced its outstanding fixed-term and long-term loans obtained for the import of plant and machinery under SBP’s Long-Term Finance for Export Oriented Scheme (LTF-EOS).
The Pakistan Readymade Garment Manufactures and Exporters Association (Prgmea) has urged the government to reduce the rate of labour levies for social securities and employees old age benefit. In a communication to the government, PRGMEA Chairman Bilal Mulla said that garment manufacturers’ wages rates are among the highest.
Export Promotion Bureau Chairman Tariq Ikram has said the export target of $40 billion within next five years is easily achievable if an export strategy is prepared targeting for the world market share of 5% from the present 3%.
The US policy-makers are still resisting allowing inclusion of Pakistan’s textile sector to get the duty-free access facility under the proposed Reconstruction Opportunities Zones (ROZs). The US is planning to set up these ROZs in the least developed tribal areas and the last year October 8, earthquake affected areas of AJK and NWFP.
Meanwhile Mr. Tariq Ikram has supported the textile and garment industry demand for ensuring a level-playing field against their competitors in the world market. He said that without maintaining growth in export of textiles and garments the country could not maintain the growth momentum or achieve export target of $18.6 billion for current fiscal.
The Pakistan Hosiery Manufacturers Association (PHMA) has disclosed that some of its members are exporting a large number of European brands knitting machines to China after failing to face the onslaught of frequently rising cost of inputs.
Prime Minister Shaukat Aziz has said that Textile Industry is the backbone of our industrial sector and the government is committed to facilitate the private sector to improve their competitiveness and productivity. He emphasized the need to promote innovation and research to enable the industry grab a better share in the global textile market.
Exporters have alleged that the Central Board of Revenue (CBR) is fleecing them in millions of rupees by deducting 1% income tax on exports at gross amount of proceeds. With growing tough competition in the world market in post-quota era exporters are looking for every penny they could save to keep them afloat.
The State Bank (SBP) has announced that the research and development (R&D) support would be provided to the home textile and dyed/printed fabrics manufacturing-cum-exporting units. However, all kinds of towels (un-stitched) are not admissible for the R & D support.
All Pakistan Textile Mills Association (APTMA), NWFP Chapter, has demanded the Provincial Government to provide a level-playing field to the textile units by giving them electricity at reduced rates and subsidy to overcome higher transportation costs.
Pakistan’s textiles were overly burdened with duties, high cost inputs and inflationary credit finance, said Pakistan Textile Exporters Association (PTEA) Chairman Arif Tauseef. He said that Research and development support extended by the government to home textiles and made-ups sector is basically intended to boost exports of the country. But this is not the real solution to the problem.
The garment cities of Lahore and Faisalabad would be made functional within a period of one year, said Minister for Textile Mushtaq Ali Cheema. He said that the buildings equipped with every facility would be provided to industrialists in garment cities on lease basis.
Cotton leaf curl virus (CLCV) has no remedy and if any one claims its treatment he would only be misguiding farmers, said Rana Munir District Officer Agriculture (DOA). He said that all cotton plants, including those affected by the virus, were sprouting due to the fall in temperature after recent rains.
Bilal Mulla, Central Chairman of Pakistan Readymade Garment Manufacturer and Exporter Association (PREGMEA), said the value added exports of the country declined sharply during this year instead of surging owing to the tarnished country image of Pakistan.
Minister for Textile Industry, Chaudhry Mushtaq Ali Cheema has said that Government is conscious of the issues of women development and is fully committed to the enhancement of the status of women on the grounds of equity and equality. He said that textile industry is the core industry of Pakistan and due to ‘Textile Vision 2005’; the government has provided substantial development to this sector.
The LCCI President said that the textile industry is the backbone of Pakistan’s economy. It accounts for 27% value addition in the manufacturing sector. It employs 38% of the industrial workers and contributes 60% to the foreign exchange earnings of the country. He said that the progressive liberalisation of world trade has created opportunities and challenges for Pakistan. It is a good omen that there is a greater realisation emerging in Pakistan’s textile sector now that it has not only to become competitive to export more but has to provide environmental safeguards also under compliance of ISO; 9000-14000.
