KARACHI: All Pakistan Textile Mills Association (Aptma) Chairman SM Tanveer has announced to set up a committee to take up issues with the government as the textile exports fell 16 per cent in March.
SM Tanveer, addressing a press conference, said that the strong currency and rebates given by the neighbouring countries have damaged the benefits of GSP Plus status for the country’s textile exports.
He said that rupee depreciated by 5 per cent over the past two years, whereas Indian rupee and euro have been devalued by 1.25 and 26pc respectively. He said that the most disturbing development which emerged from the latest exports figures, is an overall fall in textile exports including yarn, fabric as well as made-ups.
The Aptma chairman lamented the dumping of cheap textile products like yarn, fabrics and made-ups in Pakistan. “The high cost of raw material coupled with a 15pc higher cost of doing business than regional countries are factors crippling the largest industrial sector,” he bemoaned.
