KARACHI: The country’s value-added textile exports declined by 13.42 percent in the first quarter of the current fiscal year.
The increasing cost of doing business for the export-oriented industry eventually reduced the vital exports drastically besides increasing electricity and gas charges. The government, instead of withdrawing 2 percent sales tax on exports, increased sales tax on exports by 50 percent in the last budget 2015-16.
Pakistan Apparel Forum Chairman Jawed Bilwani, in a statement, said the the overall exports during July to October declined by 13.42 percent as compared to the corresponding year. During the same period, the overall exports of Bangladesh increased by 4.95 percent and Vietnam 9.20 percent, whereas the overall exports of China and Sri Lanka decreased negligibly by 2.50 percent and 4.50 percent respectively, he added.
He said, “These figures once again clearly prove that the government is consulting only with those whose agenda is to decrease exports on account of their personal gains. In the last fiscal year 2014-15, overall exports also declined by around 5 percent.”
