KARACHI: President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Zubair Tufail has said that talks with the government are under way on payment of export refund so that the liquidity crunch faced by textile exporters can be addressed.
Along with other senior members of the FPCCI during his visit to the 10th international textile machinery and garment technology exhibition on the second day of the event, IGATEX Pakistan 2017-Exhibition and Conference, on Thursday at the Expo Centre, Tufail expressed the hope that the issue of refunds would be resolved soon. “Payment of refunds would ease financial burden on exporters as cash flow position would improve. It will also boost morale of exporters,” he added.
Appreciating the efforts of organisers of the exhibition, the FPCCI president noted that Pakistani exporters needed modern technologies and machinery to enhance their share in international market. “I am happy to see the products and their quality being displayed at the exhibition,” he said.
He laid stress on introduction of latest machinery to increase textile production in Pakistan. “Bangladesh, despite being a cotton deficient country, has around $35 billion exports. Similarly, other countries, which are preferring to adopt modern ways of production, are increasing their market share,” he added.
Saleem Khan Tanoli, CEO of FAKT Exhibitions, while sharing the feedback of the exhibition, told the media that hundreds of visitors, mostly engineers and technicians, were visiting to exchange views and get information about machinery being displayed.
He reiterated that Pakistan needed modern machinery and technology and this event provided avenues to traders and industrialists. “The exhibition is playing a vital role in the introduction of most modern machinery to the local industrialists, which increases productivity,” Tanoli added.
Improved law and order situation in Karachi has encouraged foreign exhibitors, which is reflected by the number of companies participating in the show, he noted.
At the exhibition organised by FAKT Exhibitions, more than 550 companies of 35 countries are participating with their latest machinery. Among others, 73 are Italian, 70 German, 50 Chinese, 25 Turkish and 80 Pakistani companies are showcasing their products.
