LAHORE: All Pakistan Textile Mills Association (Aptma) SM Tanveer has criticised the government over declining trend in textile exports.
“The Association has blowing the whistle constantly over decline in textile industry exports but the government has done little to arrest the trend,” he added.
The Aptma chairman said latest export data has revealed that textile exports have registered a decline of six percent in value terms in May 2015 against the corresponding period. In quantity terms, he added, exports of cotton cloth, towel and art, silk and synthetic textile have also lost their positions against the corresponding period.
He said unfortunately textile and clothing exports were stagnant since 2006 against regional competitors, doubling their exports. He said high cost of doing business and absence of conducive environment has impaired 30 percent production capacity resulting into loss of textile exports worth $3325 million.
He has urged the government to ensure zero rating of export oriented textile industry for all incidentals including taxes, duties, surcharges, levies and cess by extending drawbacks receipts realised by the State Bank of Pakistan at 5 percent on yarn, 10 percent on fabrics and 15 percent on made ups/garments.
He has further urged the government to provide support of long term finance facility for replacement of old machines in textile mills. ‘Textile exports could decline by 25% in fiscal year 2015-2016’
