KARACHI: The representative of garments manufacturers has called for early announcement of textile package as the delay is further deteriorating the largest industrial sector of the country.
Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) acting Chairman Arshad Aziz said this in a statement. He said that he current scenario is extremely worrying the precious foreign-exchange earning industries and the ever increasing cost of utilities and inputs is causing closure of many units across the country.
He said that biggest foreign exchange earning sector of textiles that was touching almost $4 to $5 billion before PPP regime is now, dwindling and fallen to less than $2 billion during current fiscal year. He said that it’s a shame that countries like Bangladesh that import cotton yarn for Pakistan, has brought to its garments exports to over $15 billion. Similarly some other competitors like Sri Lanka, Vietnam, India have increased their garments exports to even more than Bangladesh.
“Textile Package delay has created further unemployment and closure of many units, which could not survive due to funds stuck up in refunds and no package announced to compete with the competitor countries which have given incentives to the exporters which has increased their export”, Arshad said.
