LAHORE: The Pakistan Textile Exporters Association (PTEA) has demanded the government to announce textile package in order to control the widening trade deficit.
Commenting on recent export figures while sharing with media, Chairman Pakistan Textile Exporters Association Ajmal Farooq and Vice Chairman Muhammad Naeem said that country’s exports plunged by 3.93% to USD 8.18 billion during July-November period of this year, which was USD 334.68 million less than the comparative period of last year.
Compared to this, the import bill increased 8.7% to almost USD 20 billion in the same period. In absolute terms, the import bill was USD 1.6 billion more than in the previous year.
They termed high cost of production and un-competitiveness as the major hurdles in export growth and if the reasons behind the industrial crisis were not addressed, the situation may be aggravated further in coming months. PTEA chiefs urged the government to announce much awaited textile package without any further delay.
Meanwhile: Director of Citrus Research Institute (CRIS) Sargodha Altaf-ur-Rehman said the institute was striving hard to improve the quality and production of kinnow by introducing modern techniques. The improved quality would help enhance export of the kinnows, he said while talking to APP on Friday. He said during the current season the citrus produce was satisfactory.
