KARACHI: The worst ever power crisis in Punjab and law and order situation in Sindh, particularly in Karachi, has brought down the country’s exports by nine percent, Customs Today learnt.
The exporters, wishing not to be named, told Customs Today that the energy crisis, particularly in Punjab, has significantly reduced the industry’s production capacity and caused a decline in exports.
“The energy crisis is no doubt a severe impediment to several companies, but it hits the relatively inefficient spinning and weaving industries within the textile sector far worse than it affects the composite textile sector”, they said.
The exporters added that the textile exports were largely flat, mainly due to higher prices this year compared to last year, adding that the jewellary exports had also been reduced from $200 million during July-November 2013 to less than $4 million during the same period in 2014.
Moreover, with overall reduction of exports, the customs exports had also missed the revenue collection target of Rs 5664.48 million for the fiscal year 2014-15.
When approached, Deputy Collector of the MCC-Exports Shaukat Hayat told Customs Today that the overall exports had reportedly been declined by at least 9 percent due to worst energy crisis in the up country i.e. Punjab. Besides, the law and order situation has also affected the exports from twin port city.
However, with the efforts of the present government and the Karachi operation, the situation would hopefully be better and the exports would be enhanced.
Under these circumstances, the Model Customs Collectorate (MCC) of Export could not achieve the revenue target as it collected Rs 4746.10 million against Rs 5664.48 million for the fiscal year 2014-15, the official said.
